From Watermark Funds Management’s investment via The Australian on the CBA result this morning:
Cash earnings came in ahead of estimates
“Cash earnings grew by 6% sequentially and 4% on the prior corresponding period and came in 1% ahead of consensus expectations. However, EPS was in line with expectations due to dilution from the capital raising last year. Underlying profits were also 1% ahead of expectations, however CBA benefited from stronger earnings in insurance and funds management income,” Mr Joshi said.