RBC’s Record Quarter for Capital Markets Fuels Earnings Beat (3)

Royal Bank of Canada topped estimates on strong performance across its biggest businesses and as the firm set aside less money than expected to cover possible loan losses, a rebound from notable misses on credit earlier this year. The company’s shares surged.

Canada’s largest bank earned C$3.84 per share on an adjusted basis in its fiscal third quarter, according to a statement Wednesday, topping the C$3.25 average estimate of analysts in a Bloomberg survey. Provisions for credit losses totaled C$881 million ($636 million) for the three months through July, less than the C$1.1 billion analysts had forecast.

The bank’s overall ...