Better

Bank AI

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 Neither the author, Tim Fries, nor this website, The Tokenist, provide financial advice. Please consult our&nbsp;<a href="https://tokenist.com/terms-of-service/" style="text-decoration:underline;color:#3c7b7b" target="_blank" rel="noreferrer noopener" class="deco-link">website policy</a>&nbsp;prior to making financial decisions.
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<h3 id="key-highlights">Key Highlights</h3> 
<ul> 
 <li><strong>Total Revenue and Net Income:</strong> For the quarter ended October 31, 2023, the company reported a total revenue of C$13.03 billion and a net income of C$4.13 billion.</li> 
 <li><strong>Earnings Per Share (EPS):</strong> Basic and diluted EPS for the quarter stood at C$2.78, compared to the expected EPS of C$2.63.</li> 
 <li><strong>Year-Over-Year Comparison:</strong> The total revenue for the year ended October 31, 2023, was C$56.13 billion, up from C$48.99 billion in 2022. The net income for 2023 was C$14.87 billion, compared to C$15.81 billion in 2022.</li> 
</ul> 
<p>Royal Bank of Canada’s (NYSE: RY) latest quarterly financial release reveals a significant achievement for the company, with total revenue reaching C$13.03 billion for the quarter ended October 31, 2023. This figure shows a notable increase from the $12.57 billion reported in the same quarter of the previous year. However, from the full-year perspective, the revenue climbed impressively from $48.99 billion in 2022 to $56.13 billion in 2023​​.</p> 
<p>Net income also reflected strong performance. For the quarter, the net income stood at $4.13 billion, demonstrating robust growth compared to last year. Over the year, the company reported a net income of $14.87 billion, although this slightly decreased from the $15.81 billion recorded in 2022.</p> 
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<h3 id="eps-beat-by-c-0-15-for-the-quarter">EPS Beat by C$0.15 for the Quarter</h3> 
<p>For the quarter ended October 31, 2023, both the basic and diluted EPS were reported at C$2.78. This performance notably exceeds the market expectations of an EPS of $2.63, indicating the company’s stronger-than-anticipated financial health. This outperformance could be attributed to various strategic and operational efficiencies implemented by the company during the period​​.</p> 
<p>The company’s share performance also reflects this positive trend. The number of common shares reported shows a stable share structure, ensuring that the EPS growth reflects increased profitability and is not merely a result of reduced share count. This stability is crucial for investors, providing a more accurate and reliable indicator of the company’s true earnings capacity.</p> 
<p>The company’s latest financial report paints a picture of a robustly performing entity, surpassing market expectations in key areas. While the year-over-year net income decreases slightly, the overall revenue growth and EPS performance indicate a strong market position.</p> <iframe src="https://tokenist.substack.com/embed" width="100%" height="320" style="border:1px solid #EEE; background:white;" frameborder="0" scrolling="no"></iframe> 
<p>The post <a rel="nofollow" href="https://tokenist.com/royal-bank-of-canada-rc-reports-better-than-expected-eps-of-c2-78-in-q4/">Royal Bank of Canada (RY) Reports Better than Expected EPS of C$2.78 in Q4</a> appeared first on <a rel="nofollow" href="https://tokenist.com">Tokenist</a>.</p>

Royal Bank of Canada (RY) Reports Better than Expected EPS of C$2.78 in Q4

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