NYSE$RY
Royal Bank of Canada · Q2 2025 earnings
Q2 2025 earnings · · Investor relations
Briefing
Royal Bank of Canada reported Q2 2025 net income of C$4.4B on C$15.7B revenue, with diluted EPS of C$3.02.
For the quarter ended April 30, 2025, RBC earned net income of C$4.4 billion (up 11% year over year) on total revenue of C$15.7 billion (up 11%). Diluted EPS was C$3.02 versus C$2.74 a year ago; adjusted diluted EPS was C$3.12. Pre-provision, pre-tax earnings were C$6.9 billion, up 19% (including C$264 million from HSBC Canada). The PCL on loans ratio was 58 bps, up 17 bps year over year on trade-disruption macro weights. CET1 was 13.2%. The bank declared a C$1.54 dividend (up C$0.06) and announced intent to repurchase up to 35 million shares via NCIB.
- Net income C$4.4B (+11% YoY) on C$15.7B revenue (+11% YoY); HSBC Canada added C$258M to net income.
- Personal Banking C$1.6B (+14% YoY) and Wealth Management C$929M (+11% YoY); Capital Markets C$1.2B (-5% YoY).
- PCL on loans ratio 58 bps (+17 bps YoY) on tariff-related performing provisions; total PCL C$1.4B.
- CET1 13.2%; C$2.6B returned to shareholders; NCIB for up to 35M shares announced.
Headline financials
Revenue & EPS history
RBC · Revenue · Quarterly
C$11.3B
Revenue by segment
RBC · C$4.54B total across 5 segments · Q2 2025
- Personal BankingC$1.6B—35.3%
- Capital MarketsC$1.2B-4.8%26.5%
- Wealth ManagementC$929M+20.8%20.5%
- Commercial BankingC$597M—13.1%
- InsuranceC$211M+19.2%4.6%
Forward guidance
Management did not issue quantitative EPS guidance. The bank declared a C$1.54 quarterly dividend and announced an NCIB to repurchase up to 35 million common shares, subject to TSX and OSFI approval. Investor Day outlined medium-term objectives to extend Canadian leadership, grow U.S. and global fee pools, and deploy AI at scale.
Tailwinds
- Quarterly dividend increased 4% to C$1.54 per share.
- Proposed NCIB for up to 35 million shares (~2.5% of float).
- CET1 ratio of 13.2% supports growth and capital returns.
- Diversified model resilient through macro volatility per management commentary.
Headwinds
- PCL on loans ratio elevated at 58 bps on tariff and macro scenario weights.
- Net income down 14% sequentially on seasonality and higher credit provisions.
- Capital Markets earnings down year over year on compensation and taxes.
- Commercial Banking ex-HSBC net income down 19% on performing-loan PCL.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q2 2025
+0.3%
Avg return
Earnings day
+0.3%
Avg return
5 days after
-0.3%
Avg return
30 days after
57%
37 / 65 earnings
Positive
+5.5%
Q3 2025
Best reaction
-7.4%
Q4 2011
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q2 2026 | -0.1% | +1.1% | — | |
| Q1 2026 | -2.2% | -4.5% | -8.9% | |
| Q4 2025 | +1.5% | +5.8% | +10.6% | |
| Q3 2025 | +5.5% | +5.6% | +6.1% | |
| Q2 2025 | -3.1% | -1.1% | +0.6% | |
| Q1 2025 | -3.6% | -5.8% | -6.1% | |
| Q4 2024 | +0.5% | +1.0% | -3.5% | |
| Q3 2024 | +2.1% | +3.8% | +6.8% | |
| Q2 2024 | +5.4% | +4.5% | +3.4% | |
| Q1 2024 | +0.2% | +0.3% | +4.1% | |
| Q4 2023 | +4.3% | +4.5% | +15.8% | |
| Q3 2023 | +0.1% | +1.8% | +0.3% | |
| Q2 2023 | -0.8% | -0.6% | +1.8% | |
| Q1 2023 | -1.2% | -0.7% | -5.8% | |
| Q4 2022 | +1.9% | -0.2% | -4.5% | |
| Q3 2022 | -0.2% | -1.4% | -6.9% | |
| Q2 2022 | +2.7% | +4.1% | -3.9% | |
| Q1 2022 | +0.5% | -1.9% | +3.1% | |
| Q4 2021 | +1.1% | +2.2% | +7.2% | |
| Q3 2021 | -0.3% | -0.7% | -3.5% | |
| Q2 2021 | +1.3% | +1.6% | -0.1% | |
| Q1 2021 | -1.5% | -2.4% | +4.7% | |
| Q4 2020 | -0.5% | -0.1% | -0.7% | |
| Q3 2020 | +2.1% | +0.2% | -7.1% | |
| Q2 2020 | +3.9% | +5.6% | +4.5% | |
| Q1 2020 | +0.0% | -4.1% | -33.0% | |
| Q4 2019 | -1.5% | -2.2% | -1.6% | |
| Q3 2019 | +0.3% | -0.8% | +9.2% | |
| Q2 2019 | -1.4% | -2.0% | +1.4% | |
| Q1 2019 | +0.4% | +1.5% | -1.6% | |
| Q4 2018 | +2.5% | +2.7% | -5.1% | |
| Q3 2018 | +1.1% | +2.2% | +2.7% | |
| Q2 2018 | -3.6% | -5.6% | -3.2% | |
| Q1 2018 | +0.5% | -2.0% | -4.3% | |
| Q4 2017 | -0.1% | +1.8% | +4.2% | |
| Q3 2017 | +1.4% | +1.7% | +4.5% | |
| Q2 2017 | +0.8% | +0.3% | +2.6% | |
| Q4 2016 | -2.4% | -1.1% | +1.0% | |
| Q3 2016 | -1.0% | -1.3% | -2.9% | |
| Q2 2016 | +1.6% | -1.1% | -2.5% | |
| Q1 2016 | -1.1% | — | — | |
| Q4 2015 | -0.7% | — | — | |
| Q3 2015 | +3.5% | — | — | |
| Q2 2015 | -0.8% | — | — | |
| Q1 2015 | +2.6% | — | — | |
| Q4 2014 | -0.8% | — | — | |
| Q3 2014 | -1.8% | — | — | |
| Q2 2014 | +0.1% | — | — | |
| Q1 2014 | -1.2% | — | — | |
| Q4 2013 | +0.9% | — | — | |
| Q3 2013 | -2.0% | — | — | |
| Q2 2013 | +0.3% | — | — | |
| Q1 2013 | +0.4% | — | — | |
| Q4 2012 | +1.4% | — | — | |
| Q3 2012 | -1.5% | — | — | |
| Q2 2012 | -0.8% | — | — | |
| Q1 2012 | +1.9% | — | — | |
| Q4 2011 | -7.4% | — | — | |
| Q3 2011 | +0.5% | — | — | |
| Q2 2011 | -0.2% | — | — | |
| Q1 2011 | +2.8% | — | — | |
| Q4 2010 | +0.1% | — | — | |
| Q3 2010 | +1.9% | — | — | |
| Q2 2010 | -0.4% | — | — | |
| Q1 2010 | +1.3% | — | — | |
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