Royal Bank Q4 profit down from year ago, misses analysts’ expectations

Royal Bank Q4 profit down from year ago, misses analysts’ expectations

TORONTO – Fourth-quarter results at Royal Bank of Canada edged lower compared with a year ago and fell short of analysts’ expectations.

The big Canadian bank says it earned nearly $ 3.21 billion or $ 2.18 per diluted share in the quarter ended Oct. 31.

The result compared with a profit of $ 3.25 billion or $ 2.20 per diluted share in the same quarter last year.

The decline came due in part to lower results at its capital markets and insurance businesses, partially offset by improvement in its wealth management, personal and commercial banking operations.

Royal Bank says its adjusted diluted cash earnings per share amounted to $ 2.22 for the quarter.

Analysts on average had expected a profit of $ 2.28 per share, according to financial markets data firm Refinitiv.

This report by The Canadian Press was first published Dec. 4, 2019.

Companies in this story: (TSX:RY)

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