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Royal Bank Of Canada Posts Third-Quarter Loss

First Posted: 08/26/11 08:22 AM ET Updated: 10/26/11 06:12 AM ET

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Rbc Earnings
Royal Bank of Canada has posted a $92-million loss for its third quarter, mostly because of a writedown of U.S. retail banking operations that have been sold.

TORONTO - Royal Bank of Canada (TSX:RY) has posted a $92-million loss for its third quarter, mostly because of a writedown of U.S. retail banking operations that have been sold.

Excluding the discontinued operations, RBC's continuing operations had $1.57 billion of net income — up 13 per cent from last year.

That amounted to $1.04 of diluted earnings per share from Royal's continuing operations.

Analysts had expected Royal to do better, with a Thomson Reuters consensus estimate of $1.08 per share from contining operations.

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TORONTO - Royal Bank of Canada (TSX:RY) has posted a $92-million loss for its third quarter, mostly because of a writedown of U.S. retail banking operations that have been sold. Excluding the disco...
TORONTO - Royal Bank of Canada (TSX:RY) has posted a $92-million loss for its third quarter, mostly because of a writedown of U.S. retail banking operations that have been sold. Excluding the disco...
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chickenshortz
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01:38 PM on 08/26/2011
Talk about fuzzy math.
Wait, I'm sorry. My sarcasm runs away with me sometimes. I actually feel bad for the poor old banks. A measly $1.57Billion in profit, up only 13% from last year. However will they cope?
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