Canadian Imperial Bank of Commerce (CIBC) (TSX:CM) is expected to post a drop in earnings but higher revenue for the fiscal third quarter when it reports before the opening bell on Thursday, August 31.
Analysts, on average, expect the Toronto-based bank to post earnings per share (EPS) of C$1.68, compared to EPS of C$1.85 in the year-ago quarter.
Should its earnings come in below expectations, CIBC will be joining its peers the Bank of Montreal (CSE:BMO) and the Bank of Nova Scotia (TSX:BNS) who earlier this week posted disappointing bottom line results.
Revenue, however, is pegged at C$5.81 billion, up from C$5.57 billion for fiscal 3Q 2022.
CIBC shares traded modestly lower ahead of its earnings report, down 0.5% at C$17.11 on Wednesday afternoon.
Contact the author at emily.jarvie@proactiveinvestors.com
Follow her on Twitter @emilyjjarvie