By Ketki Saxena
Investing.com -- Royal Bank of Canada (TSX:RY) kicked off the earnings season for the Big Six Banks today morning, beating analyst expectations as revenue rose to $4.1 B, up $248 million or 6% from Q1 2021. Diluted earnings per share rose 7% YoY to $2.84.
Growth was driven primarily by the Personal and Commercial Banking segment, with net income of $1,974 million, $181 million or 10% higher from a year ago, and Wealth Management, with Net income of $795 million, $154 million or 24% higher from a year ago.
Notoriously volatile capital market net income of $1,030 million marked a $37 million or 3% decrease from record first quarter earnings last year. Net income from the insurance and Investor treasury services segments also decreased.
As of market close yesterday, RBC stock was trading at $140.49, down -1.86 (-1.31%) in the day’s trading, with a 52-week range between $108.15 - 149.60.
YTD, RBC stock has returned 6.9% total price return to shareholders. RBC offers a 3.37% annual dividend yield, paid quarterly.
All currencies CAD, unless noted otherwise.