It doesn't seem like that long ago that we were going through Commonwealth Bank of Australia (ASX: CBA)'s latest full-year earnings report and how it helped drive CBA shares to new record highs.
Although that was back in August, CBA shares have remained popular with investors. The ASX's largest bank stock is up another 8.05% over the past month alone (at the time of writing) and just today touched a new record all-time high of $146.55.
But CBA has moved on from its FY2024 numbers, and is scheduled to give investors its latest quarterly earnings update next Wednesday, 13 November. This will cover the bank's performance over the three months to 30 September.
So, what should ASX investors and owners of CBA shares watch out for?
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What's happening with CBA shares next week?
Well, one thing that will be off the table is a new CBA dividend. The dividend is typically the centrepiece of any ASX bank's earnings report. But since this latest update will be a quarterly report, not a half-yearly or annual one, there will almost certainly be no fresh dividend announcements.
What will be worth looking out for is any economic commentary from CBA's management team. As the Reserve Bank of Australia (RBA) pointed out this week when it left interest rates unchanged, inflation remains a pressing problem for the Australian economy. Any observations from CBA on this matter as a frontline observer could well prove insightful.
But investors will obviously want to see some hard numbers, too. CBA will likely reveal how its financial metrics, such as operating income, profits and expenses, performed over the quarter just gone.
Back in August, Commonwealth Bank revealed that its operating income was flat for the 2024 financial year, while its expenses rose 3%, leading to a 2% fall in cash net profits after tax to $9.84 billion.
Investors were forgiving at the time, perhaps thanks to a record CBA dividend. But if the bank reveals that its profits have continued to slide into the back half of the 2024 calendar year, then it's entirely possible that investors will begin to question why the bank remains at new all-time highs.
Of course, the opposite could also occur. If the bank delivers a better-than-expected report, we could also see CBA shares push even higher or even just tread water. We'll find out for sure next week.
