TORONTO (AP) _ Canadian Imperial Bank of Commerce (CM) on Thursday reported fiscal fourth-quarter net income of $767.7 million.
The bank, based in Toronto, said it had earnings of $1.66 per share. Earnings, adjusted for non-recurring costs, came to $2.11 per share.
The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.89 per share.
The bank and financial services company posted revenue of $4.24 billion in the period. Its revenue net of interest expense was $3.48 billion, which did not meet Street forecasts.
Canadian Imperial Bank shares have climbed slightly more than 2% since the beginning of the year. The stock has dropped almost 2% in the last 12 months.