TORONTO (AP) — TORONTO (AP) — Canadian Imperial Bank of Commerce (CM) on Thursday reported fiscal first-quarter net income of $2.23 billion.
The Toronto-based bank said it had earnings of $2.31 per share. Earnings, adjusted for non-recurring gains, came to $1.99 per share.
The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.74 per share.
The bank and financial services company posted revenue of $11.46 billion in the period. Its revenue net of interest expense was $6.05 billion, also exceeding Street forecasts.
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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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