TORONTO (AP) — TORONTO (AP) — Canadian Imperial Bank of Commerce (CM) on Thursday reported fiscal first-quarter net income of $1.27 billion.
The bank, based in Toronto, said it had earnings of $1.31 per share. Earnings, adjusted for non-recurring costs, were $1.34 per share.
The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.24 per share.
The bank and financial services company posted revenue of $11.62 billion in the period. Its revenue net of interest expense was $4.6 billion, also exceeding Street forecasts. Three analysts surveyed by Zacks expected $4.47 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