CIBC Earnings Top Estimates on Record Revenue Across Divisions

Canadian Imperial Bank of Commerce topped estimates on better-than-expected results in its capital-markets business and across all of its operations, continuing a streak of growth boosted by solid margins.

The Toronto-based lender earned C$2.76 a share on an adjusted basis in its fiscal first quarter, according to a statement Thursday, more than analysts’ C$2.38 average estimate.