Canadian Imperial Bank of Commerce First Quarter 2024 Earnings: Beats Expectations
Canadian Imperial Bank of Commerce (TSE:CM) First Quarter 2024 Results
Key Financial Results
Revenue: CA$5.64b (flat on 1Q 2023).
Net income: CA$1.65b (up 370% from 1Q 2023).
Profit margin: 29% (up from 6.2% in 1Q 2023).
EPS: CA$1.77 (up from CA$0.39 in 1Q 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Canadian Imperial Bank of Commerce Revenues and Earnings Beat Expectations
Revenue exceeded analyst estimates by 2.5%. Earnings per share (EPS) also surpassed analyst estimates by 9.1%.
Looking ahead, revenue is forecast to grow 4.0% p.a. on average during the next 3 years, compared to a 5.3% growth forecast for the Banks industry in Canada.
Performance of the Canadian Banks industry.
The company's shares are up 3.8% from a week ago.
Risk Analysis
Be aware that Canadian Imperial Bank of Commerce is showing 1 warning sign in our investment analysis that you should know about...
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