Commonwealth Bank of Australia FQ3 Profit Up 3%

Commonwealth Bank of Australia

reported weaker-than-expected results for its fiscal third quarter. Its cash profit gained 3% to $1.75 billion Australian dollars (US$1.74 billion), versus A$1.7 billion, in the year-ago period. Analysts were expecting a cash profit of A$1.8 billion. Commonwealth Bank of Australia shares closed at $52.58 yesterday.