Canadian Imperial Bank (CM.TO, CM) was at last look edging higher in US pre-market trade on Thursday as it reported improved earnings for the first quarter, boosted by higher revenues.

For Q1, CIBC reported adjusted diluted EPS $2.20 vs. $1.81 a year ago and beating a FactSet forecast of $1.97.

Reported Diluted EPS was $2.19 versus $1.77 a year ago. Results for Q1 were affected by the following item of note resulting in a negative impact of $0.01 per share: $12 million ($8 million after-tax) amortization of acquisition-related intangible assets.

Revenues came in at $7,281 million versus a FactSet forecast of $6,867.8 million and $6,221 million a year ago.

Among other highlights, CIBC's CET1 ratio was 13.5% at January 31, 2025, compared with 13.3% at the end of the prior quarter. CIBC's leverage ratio and liquidity coverage ratio at January 31, 2025 were 4.3% and 132%, respectively. Provision for credit losses was $573 million, down $12 million from the same quarter last year.

The board declared a dividend of $0.97 per share on common shares for the quarter ending April 30, 2025 payable on April 28, 2025 to shareholders of record at the close of business on March 28, 2025.

"In the first quarter of 2025, we delivered another strong financial performance by continuing to execute on our client-focused strategy, which is generating consistent results for our stakeholders," said Victor G. Dodig, CIBC president and chief executive. "Our diversified business platform, robust capital position and strong credit quality give us the foundation to deliver for stakeholders in the year ahead, including support for our clients as we navigate the expected volatility in the cross-border business environment."