Canadian Imperial Bank: Fiscal 3Q Earnings Snapshot
TORONTO (AP) _ Canadian Imperial Bank of Commerce (CM) on Thursday reported fiscal third-quarter earnings of $1.04 billion.
The bank, based in Toronto, said it had earnings of $2.29 per share. Earnings, adjusted for non-recurring costs, came to $2.32 per share.
The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $2.29 per share.
The bank and financial services company posted revenue of $5.46 billion in the period. Its revenue net of interest expense was $3.54 billion, which also beat Street forecasts.
Canadian Imperial Bank shares have risen slightly since the beginning of the year. The stock has dropped 20% in the last 12 months.