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TORONTO (AP) — TORONTO (AP) — Canadian Imperial Bank of Commerce (CM) on Friday reported fiscal first-quarter profit of $314.1 million.
The bank, based in Toronto, said it had earnings of 29 cents per share. Earnings, adjusted for non-recurring costs, came to $1.44 per share.
The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.23 per share.
The bank and financial services company posted revenue of $9.64 billion in the period. Its revenue net of interest expense was $4.4 billion, also beating 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 CM">Zacks stock report on CM at https://www.zacks.com/ap/CM