Canadian Imperial Bank Of Commerce Q3 Profit Increases, Beats Estimates

(RTTNews) - Canadian Imperial Bank of Commerce (CM) released earnings for its third quarter that Increased from last year and beat the Street estimates.

The company's bottom line totaled C$2.094 billion, or C$2.15 per share. This compares with C$1.786 billion, or C$1.82 per share, last year.

Excluding items, Canadian Imperial Bank of Commerce reported adjusted earnings of C$2.102 billion or C$2.16 per share for the period.

Analysts on average had expected the company to earn C$2.00 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period rose 9.8% to C$7.254 billion from C$6.604 billion last year.

Canadian Imperial Bank of Commerce earnings at a glance (GAAP) :

-Earnings: C$2.094 Bln. vs. C$1.786 Bln. last year. -EPS: C$2.15 vs. C$1.82 last year. -Revenue: C$7.254 Bln vs. C$6.604 Bln last year.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.