The Commonwealth Bank of Australia (ASX: CBA) share price is sliding today.
Shares in the S&P/ASX 200 Index (ASX: XJO) bank stock closed yesterday at $150.25. In late morning trade on Wednesday, they were changing hands for $148.14 apiece, down 1.4%.
For some context, the ASX 200 is down 1.2% at this same time.
As for the other big four Aussie bank stocks, National Australia Bank Ltd (ASX: NAB) shares are down 2.2%, and Westpac Banking Corp (ASX: WBC) shares are down 1.9%.
And with Australia and New Zealand Banking Group Ltd (ASX: ANZ) shares trading ex-dividend today, the ANZ share price is down 4.6% at the same time.
With this picture in mind, the CBA share price is outperforming today following the release of the bank's first-quarter update (Q1 FY 2025).
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CBA share price dips but outperforms on results
The CBA share price looks to be holding up better than that of its major banking rivals after Australia's biggest bank achieved a 3.5% increase in operating income over the quarter.
Unaudited cash net profit of approximately $2.5 billion was flat year on year.
And CBA reported a 0.29% improvement in its Common Equity Tier 1 (CET1) ratio to 11.8% before the payment of $4.2 billion in 2H 2024 dividends.
"These results demonstrate ongoing focus on delivering for our customers and disciplined operational and strategic execution," CBA CEO Matt Comyn said.
Looking at what might impact the CBA share price ahead, Comyn sounded a note of caution around the pace of inflation reductions and ongoing global conflicts.
"Inflation is moderating, but at a slowing pace, and global geopolitical tensions are creating uncertainty," he said.
Despite noting the slow growth of the Aussie economy, Comyn added, "We remain optimistic on the overall outlook, and the Australian economy remains fundamentally sound."
More job cuts flagged
In other news that may impact the CBA share price over the months ahead, The Australian reports that CommBank is getting rid of 105 technology positions. This follows a reduction of 116 roles in September.
According to the Finance Sector Union (FSU), the impacted jobs are within CBA's Retail Technology, Business Banking Tech, Ops and Tech Corp Services and Chief Security Office segments.
FSU National Assistant Secretary Jason Hall was clearly displeased with the decision. He said:
The decision to sack 105 highly skilled workers from technology roles at CBA is a cruel blow to dedicated staff proud to work at a bank that continues to claim it is the most technologically advanced in Australia.
CommBank has yet to comment on the news. The Australian said it understands that impacted staff have been offered the opportunity for redeployment or upskilling.
With today's intraday loss factored in, the CBA share price remains up an impressive 46% over 12 months.
