Royal Bank of Canada Q1 Adj. EPS $2.09 Beats $2.06 Estimate, Sales $9.91B Miss $9.93B Estimate
Portfolio Pulse from Benzinga Newsdesk
Royal Bank of Canada (RY) reported Q1 adjusted EPS of $2.09, surpassing the $2.06 estimate, but its sales of $9.91B fell short of the $9.93B estimate. This represents a 7.35% decrease in earnings and an 11.53% decrease in sales from the same period last year.
February 28, 2024 | 11:04 am
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NEUTRAL IMPACT
Royal Bank of Canada reported a mixed Q1 with earnings beating estimates but sales missing expectations, indicating a decrease in both earnings and sales YoY.
The mixed results with an earnings beat but a slight miss on sales could lead to neutral short-term stock price movement. Investors might react positively to the earnings beat, but concerns over the sales miss and year-over-year declines could temper gains.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100