Royal Bank of Canada Earnings: Everything You Must Know Now
Royal Bank of Canada (NYSE:RY) delivered a profit and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company.
Royal Bank of Canada Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 11.45% to $1.46 in the quarter versus EPS of $1.31 in the year-earlier quarter.
Revenue: Decreased 26.18% to $7.22 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Royal Bank of Canada reported adjusted EPS income of $1.46 per share. By that measure, the company beat the mean analyst estimate of $1.38. It missed the average revenue estimate of $7.93 billion.
Quoting Management: “We continue to deliver solid performance, with record earnings of over $2.3 billion , as we leverage our strength, scale, and strong capital position to successfully execute on our disciplined growth strategy through a slow growth environment,” said Gordon M. Nixon, RBC President and CEO. “Today we are also pleased to announce a 6% increase in our quarterly dividend.”
Key Stats (on next page)…