Capital One: 4Q Earnings Snapshot
Posted January 22, 2019 4:19 pm.
This article is more than 5 years old.
MCLEAN, Va. (AP) _ Capital One Financial Corp. (COF) on Tuesday reported fourth-quarter net income of $1.26 billion, after reporting a loss in the same period a year earlier.
The McLean, Virginia-based company said it had profit of $2.48 per share. Earnings, adjusted for non-recurring gains, came to $1.87 per share.
The results fell short of Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $2.41 per share.
The credit card issuer and bank posted revenue of $8.24 billion in the period. Its adjusted revenue was $7.01 billion, which also fell short of Street forecasts. Seven analysts surveyed by Zacks expected $7.07 billion.
Capital One shares have increased 10 per cent since the beginning of the year, while the Standard & Poor’s 500 index has risen 5 per cent. In the final minutes of trading on Tuesday, shares hit $83.48, a decrease of 20 per cent in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on COF at https://www.zacks.com/ap/COF
The Associated Press
