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Company News

Canada's CIBC posts quarterly earnings ahead of market expectations

TORONTO, Aug 23 (Reuters) - Canadian Imperial Bank of Commerce, the country’s fifth-biggest lender, reported on Thursday third-quarter earnings which were ahead of market expectations, helped by strong performances from all its businesses.

The bank said earnings per share, excluding one-off items, rose to C$3.08 in the quarter ended July 31, compared with C$2.77 the year before. Analysts had on average forecast earnings of C$2.93, according to Thomson Reuters I/B/E/S. (Reporting by Matt Scuffham Editing by Edmund Blair)

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