CIBC Q1 2007 Earnings

TD Newcrest, 2 March 2007EventCIBC reported operating EPS of $2.18 ahead of our estimate of $1.91 and consensus of $1.94, up from $1.96 in Q4/06 and $1.63 in Q1/06. Bottom line growth was driven by stronger than expected contribution from the World market�s operation, solid expense management, and revenue strength from the wealth division. We believe the operating earnings number was closer to