CIBC Q3 Profit Increases 6%
Canadian Imperial Bank of Commerce (NYSE: CM) reported a 6% rise in its third-quarter profit.
The bank's quarterly earnings surged to C$890 million ($848.75 million), or C$2.16 per share, from C$841 million, or C$2.00 per share, in the year-ago period. Excluding one-time items, it earned C$2.29 per share, versus analysts' estimates of C$2.15 per share.
CIBC shares closed at $76.81 yesterday.
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