Royal Bank of Canada reported net income of C$3.06 billion, or C$2.06 per share, in the fiscal second quarter. It was C$2.81 billion, or C$1.85 per share a year ago.
The S&P Capital IQ consensus estimate for normalized EPS for the fiscal second quarter was C$2.06.
Most of the company's business segments reported higher net income from a year ago. Net income for the personal and commercial banking segment for the fiscal second quarter was C$1.46 billion, compared to C$1.36 billion last year. The wealth management segment posted net income of C$537 million, compared to C$431 million a year ago. The insurance segment earned net income of C$172 million, higher than last year's C$166 million. Net income for the investor and treasury services segment was C$212 million, up from C$193 million a year ago.
Meanwhile, net income for the company's capital markets segment — at C$665 million — was relatively flat from the year ago quarter's C$668 million net income.
