Royal Bank of Canada Reports 43% Surge In FQ4 Earnings

Royal Bank of Canada (NYSE: RY) reported a 43% surge in its fiscal fourth-quarter earnings.

RBC's quarterly earnings surged to C$1.60 billion, or C$1.07 per share, from C$1.12 billion, or 74 Canadian cents per share, in the year-ago period. Its net income from continuing operations climbed 19% y/y to C$1.63 billion, or C$1.09 per share. Its cash earnings from continuing operations came in at C$1.11 per share.

Analysts were expecting earnings of 98 Canadian cents per share.

Its revenue gained 3% to C$6.8 billion.

RBC shares gained 0.61% to close at $46.27 yesterday.