Recap: Royal Bank of Canada Q1 Earnings
Portfolio Pulse from Benzinga Insights
Royal Bank of Canada (NYSE:RY) reported Q1 earnings, beating estimated EPS by 2.0% with an EPS of $2.094 against an estimate of $2.06, but saw a revenue decrease of $1.29 billion from the previous year. The company had previously beaten EPS estimates last quarter, leading to a 1.0% share price increase the following day.
February 28, 2024 | 11:05 am
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Royal Bank of Canada reported a positive earnings surprise but a decrease in revenue compared to last year. The company has a history of stock price increase following earnings beats.
The positive earnings surprise is likely to be viewed favorably by investors, potentially leading to a short-term increase in stock price, similar to the reaction seen in the previous quarter. However, the decrease in revenue could temper some of the positive sentiment.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100