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Royal Bank: Fiscal 4Q Earnings Snapshot

TORONTO (AP) _ Royal Bank Of Canada (RY) on Wednesday reported fiscal fourth-quarter net income of $2.42 billion.

The Toronto-based bank said it had earnings of $1.65 per share. Earnings, adjusted for non-recurring costs, came to $1.68 per share.

The results fell short of Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.74 per share.

The bank posted revenue of $12.62 billion in the period. Its revenue net of interest expense was $8.59 billion, which also fell short of Street forecasts.

For the year, the company reported profit of $9.68 billion, or $6.58 per share. Revenue was reported as $34.62 billion.

Royal Bank shares have risen 18% since the beginning of the year. The stock has risen slightly more than 9% in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on RY at https://www.zacks.com/ap/RY