RBC Q2 24 Earnings: Giant 31% Net Income Surge Explained

RBC (Royal Bank of Canada) outperformed analysts’ expectations in its second quarter, driven by robust capital markets performance and lower-than-anticipated loan loss provisions.

This resulted in a 5.2% surge in shares, the most significant increase since 2020. As Canada’s largest bank, RBC recently finalized the acquisition of HSBC Holdings Plc’s Canadian business. The bank reported adjusted earnings of C$2.92 per share, surpassing the average analyst estimate of