Investing.com - Canadian Imperial Bank reported fourth quarter earnings that missed analysts' expectations on Thursday and revenue that topped forecasts.
The firm reported earnings per share of C$2.84 on revenue of C$4.77B. Analysts polled by Investing.com anticipated EPS of C$3.06 on revenue of C$4.75B. That compared to EPS of C$3 on revenue of C$4.45B in the same period a year earlier. The company had reported EPS of C$3.1 on revenue of C$4.75B in the previous quarter.
Canadian Imperial Bank shares lost 5.38% to trade at C$108.65 in intra-day trade following the report.
For the year, Canadian Imperial Bank shares are up 6.85%, under-performing the S&P/TSX which is up 18.85% year to date.
Canadian Imperial Bank follows other major Financial sector earnings this month
On Thursday, Toronto Dominion Bank reported fourth quarter EPS of C$1.59 on revenue of C$10.34B, compared to forecasts of EPS of C$1.74 on revenue of C$10.14B.
Bank of Nova Scotia earnings matched analyst's expectations on Tuesday, November 26, 2019, with fourth quarter EPS of C$1.82 on revenue of C$7.96B. Investing.com analysts expected EPS of C$1.82 on revenue of C$7.99B
Stay up-to-date on all of the upcoming earnings reports by visiting Investing.com's earnings calendar