Canadian Imperial Bank Q3 Adj EPS $1.13 Misses $1.23 Estimate, Sales $4.35B Beat $4.25B Estimate
Portfolio Pulse from Benzinga Newsdesk
Canadian Imperial Bank (NYSE:CM) reported Q3 adjusted earnings of $1.13 per share, missing the analyst consensus estimate of $1.23 by 8.05%. This is a 21.46% decrease from the same period last year. However, the company's quarterly sales of $4.35 billion beat the analyst consensus estimate of $4.25 billion by 2.47%, a 0.55% increase from last year.
August 31, 2023 | 9:57 am
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Canadian Imperial Bank's Q3 earnings missed estimates but sales exceeded expectations. Earnings were down 21.46% YoY, while sales were up 0.55%.
The bank's earnings missed estimates, which could negatively impact investor sentiment and potentially lead to a short-term decrease in the stock price. However, the sales beat could offset some of this negative impact.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100