Royal Bank of Canada (RY, RY.TO) reported second-quarter net income available to common shareholders increased to C$1.848 billion from C$1.443 billion in the same quarter last year. Earnings per share was C$1.27 up from C$0.99 last year.
Net income was C$1.936 billion, up 26% compared to net income of C$1.533 billion last year.
Excluding certain items, net income was C$1.967 billion, up C$232 million or 13% compared to the prior year, driven by solid earnings growth across all business segments, with particular strength in our Canadian Banking, corporate and investment banking and asset management businesses. Excluding certain items, earnings per share rose to C$1.29 from C$1.13 last year. Analysts polled by Thomson Reuters expected the company to report earnings of C$1.31 per share for the quarter. Analysts' estimates typically exclude special items.
Results excluding a restructuring charge of C$31 million in the latest period related to the integration of RBC Investor Services (RBCIS) and a loss of C$202 million in the prior year related to the acquisition of the remaining 50% interest in RBC Dexia Investor Services, renamed RBC Investor Services, are non-GAAP measures.
Total revenues for the quarter rose to C$7.769 billion from C$6.924 billion in the prior year quarter. Six analysts had consensus revenue estimate of C$7.63 billion for the quarter.
Royal Bank of Canada also announced its quarterly common share dividend of C$0.63 per share, payable on and after August 23, 2013, to common shareholders of record at the close of business on July 25, 2013.
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