UPDATE: CIBC Q2 Net Income Up 6%

Canadian Imperial Bank of Commerce (NYSE: CM) reported a 6% rise in its second-quarter income.

CIBC's quarterly net income climbed to C$811 million, or C$1.90 per share, versus C$767 million, or C$1.80 per share, in the year-ago period. Excluding items, CIBS earned C$2.00 per share.

Its total revenue gained 2% to C$3.08 billion.

CIBC shares closed at $68.30 yesterday.