Canadian Imperial Bank of Commerce (CM.TO) released earnings for its second quarter that increased from the same period last year and beat the Street estimates.
The company's bottom line came in at C$1.998 billion, or C$2.04 per share. This compares with C$1.739 billion, or C$1.79 per share, last year.
Excluding items, Canadian Imperial Bank of Commerce reported adjusted earnings of C$2.007 billion or C$2.05 per share for the period.
Analysts on average had expected the company to earn C$1.90 per share. Analysts' estimates typically exclude special items.
The company's revenue for the period rose 13.9% to C$7.022 billion from C$6.164 billion last year.
Canadian Imperial Bank of Commerce earnings at a glance (GAAP) :
-Earnings: C$1.998 Bln. vs. C$1.739 Bln. last year.-EPS: C$2.04 vs. C$1.79 last year.-Revenue: C$7.022 Bln vs. C$6.164 Bln last year.
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