Royal Bank of Canada (RY: Quote,RY.TO: Quote) reported third-quarter net income of C$2.240 billion, up 73% from C$1.294 billion the prior year. Earnings per share for the quarter rose to C$1.47 from C$0.83 last year.
Excluding certain items, net income from continuing operations was C$1.978 billion, up 18% from last year. These strong results were driven primarily by record earnings in Canadian Banking and strong performance in Capital Markets. Excluding certain items, earnings per share were C$1.29 up from C$1.10 per share in the year ago quarter.
Analysts polled by Thomson Reuters expected the company to report earnings of C$1.19 per share for the quarter. Analysts' estimates typically exclude special items.
Revenues for the quarter rose to C$7.76 billion from C$6.90 billion in the prior year quarter. Six analysts had consensus revenue estimate of C$7.21 billion for the quarter.
Royal Bank of Canada announced an increase to its quarterly common share dividend of three cents per share, or five per cent, to 60 cents, payable on and after November 23, 2012 , to common shareholders of record at the close of business on October 25, 2012.
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by RTT Staff Writer
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