Royal Bank of Canada (RY) Stock Gains 5.3% as Q2 Earnings Rise
Royal Bank of Canada(RY) ZACKS·2024-06-03 20:16
Shares of Royal Bank of Canada (RY) have gained 5.3% since the release of its fiscal second-quarter 2024 (ended Apr 30) results late last week. Quarterly adjusted net income of C$4.2 billion ($3.09 billion) grew 11% from the prior-year quarter.During the reported quarter, RY completed the previously announced deal to acquire HSBC Bank Canada for C$13.5 billion. Results were driven by higher revenues and loans and deposit balances. However, an increase in expenses and provisions acted as a headwind.Revenues ...