Canadian Imperial Bank of Commerce beat estimates on higher revenue across the business, including at its capital-markets unit, which was boosted by volatile trading conditions.
The lender earned C$2.05 per share on an adjusted basis in its fiscal second quarter, according to a statement Thursday, topping the C$1.88 average estimate of analysts in a Bloomberg survey. Net income at its capital-markets unit totaled C$566 million ($409 million) for the three months through April, more than the C$429 million analysts had forecast.
