Investing.com - Canadian Imperial Bank reported second quarter earnings that missed analysts' expectations on Wednesday and revenue that topped forecasts.
The firm reported earnings per share of C$2.97 on revenue of C$4.56B. Analysts polled by Investing.com anticipated EPS of C$2.98 on revenue of C$4.54B. That compared to EPS of C$2.95 on revenue of C$4.39B in the same period a year earlier. The company had reported EPS of C$3.01 on revenue of C$4.57B in the previous quarter.
Canadian Imperial Bank shares lost 2.04% to trade at C$109.83 in intra-day trade following the report.
For the year, Canadian Imperial Bank shares are up 8.02%, under-performing the S&P/TSX which is up 15.28% year to date.
Canadian Imperial Bank follows other major Financial sector earnings this month
On Tuesday, May 7, 2019, Intact Financial reported first quarter EPS of C$0.73 on revenue of C$2.22B, compared to forecasts of EPS of C$0.6 on revenue of C$2.27B.
IGM Financial Inc. earnings missed analyst's expectations on Friday, May 3, 2019, with first quarter EPS of C$0.7 on revenue of C$789.08M. Investing.com analysts expected EPS of C$0.74 on revenue of C$771.81M
Stay up-to-date on all of the upcoming earnings reports by visiting Investing.com's earnings calendar