Royal Bank: Fiscal 2Q Earnings Snapshot

by

TORONTO (AP) _ Royal Bank Of Canada (RY) on Wednesday reported fiscal second-quarter earnings of $1.11 billion.

The bank, based in Toronto, said it had earnings of 74 cents per share. Earnings, adjusted for non-recurring costs, were 77 cents per share.

The results did not meet Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.13 per share.

The bank posted revenue of $10.51 billion in the period. Its revenue net of interest expense was $7.7 billion, which also fell short of Street forecasts.

Royal Bank shares have dropped 22% since the beginning of the year. The stock has fallen 19% 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

The Associated Press