Investing.com - Canadian Imperial Bank reported third quarter earnings that beat analysts' expectations on Thursday and revenue that fell short of forecasts.
The firm reported earnings per share of C$3.1 on revenue of C$4.67B. Analysts polled by Investing.com expected EPS of C$3.07 on revenue of C$4.69B. That compared to EPS of C$3.08 on revenue of C$4.56B in the same period a year earlier. The company had reported EPS of C$2.97 on revenue of C$4.54B in the previous quarter.
Canadian Imperial Bank shares gained 1.31% to trade at C$100.80 in intra-day trade following the report.
For the year, Canadian Imperial Bank shares are down 0.87%, under-performing the S&P/TSX which is up 15.2% year to date.
Canadian Imperial Bank follows other major Financial sector earnings this month
On Wednesday, July 31, 2019, Great-West Lifeco reported second quarter EPS of C$0.7 on revenue of C$2.75B, compared to forecasts of EPS of C$0.78 on revenue of C$13.88B.
Intact Financial earnings missed analyst's expectations on Tuesday, July 30, 2019, with second quarter EPS of C$1.44 on revenue of C$3.15B. Investing.com analysts expected EPS of C$1.78 on revenue of C$3.01B
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