TORONTO (AP) — TORONTO (AP) — Canadian Imperial Bank of Commerce (CM) on Thursday reported fiscal first-quarter profit of $1.52 billion.
The bank, based in Toronto, said it had earnings of $1.54 per share. Earnings, adjusted for non-recurring costs, were $1.55 per share.
The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.38 per share.
The bank and financial services company posted revenue of $11.4 billion in the period. Its revenue net of interest expense was $5.12 billion, also beating Street forecasts. Three analysts surveyed by Zacks expected $4.79 billion.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CM at https://www.zacks.com/ap/CM
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