February 22, 2018 / 11:11 AM / a year ago

Canada's CIBC's first-quarter earnings beat market expectations

TORONTO, Feb 22 (Reuters) - Canadian Imperial Bank of Commerce reported first-quarter earnings ahead of market expectations, with strong performance from all its business units.

Canada’s fifth-biggest lender said earnings per share, excluding one-off items, rose to C$3.18, compared with C$2.89 a year earlier. Reported earnings per share were C$2.95, compared with C$3.50 a year ago. Analysts had on average forecast earnings per share of C$2.81, according to Thomson Reuters I/B/E/S data. (Reporting by Matt Scuffham; editing by Jason Neely)

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