RBC, TD Beat Estimates as Canadian Banks Post Revenue Surge

Royal Bank of Canada and Toronto-Dominion Bank both topped analysts’ estimates on strong results across retail banking, capital markets and other business lines, capping a quarter in which all of Canada’s big lenders beat forecasts on broad-based revenue growth.

Royal Bank, Canada’s largest lender, earned C$4.08 a share on an adjusted basis in its fiscal first quarter, according to a statement Thursday, more than analysts’ C$3.84 average estimate.