Canadian Imperial Bank: Q4 Earnings Insights
Portfolio Pulse from Benzinga Insights
Canadian Imperial Bank (NYSE:CM) reported Q4 earnings, beating estimates with an EPS of $1.173 against the expected $1.12. Revenue increased by $305.30 million from the previous year. Despite missing EPS last quarter, the share price rose by 0.53% the following day. The bank has had mixed past earnings performance.
November 30, 2023 | 11:05 am
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Canadian Imperial Bank reported a positive earnings surprise with a 4.73% beat on EPS estimates and a significant year-over-year revenue increase.
Beating earnings estimates typically leads to positive investor sentiment and can cause a short-term increase in stock price. The historical data shows a slight increase in share price following the last earnings miss, suggesting that the market may react favorably to this earnings beat.
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