TORONTO (AP) — TORONTO (AP) — Canadian Imperial Bank of Commerce (CM) on Thursday reported fiscal fourth-quarter net income of $1.55 billion.
The Toronto-based bank said it had earnings of $1.56 per share. Earnings, adjusted for non-recurring costs, were $1.57 per share.
The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.49 per share.
The bank and financial services company posted revenue of $11.04 billion in the period. Its revenue net of interest expense was $5.38 billion, which also topped Street forecasts.
For the year, the company reported profit of $6.02 billion, or $6.12 per share. Revenue was reported as $20.8 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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