Royal Bank of Canada (RBC) reported third-quarter earnings per share of C$4.28 on Thursday, surpassing analyst estimates by C$0.24. Revenue for the period totaled C$18.54 billion, above the C$18.07 billion consensus forecast.
The bank’s stock closed at C$207.21, reflecting a 9.33% gain over the last three months and a 42.07% increase over the past year. Analysts had revised earnings expectations upward five times in the prior 90 days, compared with two downward revisions.
InvestingPro rated RBC’s financial health as "fair performance" following the results. The earnings beat follows a period of steady stock appreciation, with the shares trading near multi-year highs.
