MCLEAN, Virginia — Capital One Financial Corp. (COF) on Tuesday reported fourth-quarter net income of $920 million.
The McLean, Virginia-based company said it had net income of $1.58 per share. Earnings, adjusted for one-time gains and costs, came to $1.67 per share.
The results topped Wall Street expectations. The average estimate of 14 analysts surveyed by Zacks Investment Research was for earnings of $1.61 per share.
The credit card issuer and bank posted revenue of $6.19 billion in the period, which also beat Street forecasts. Nine analysts surveyed by Zacks expected $6.08 billion.
Capital One shares have fallen 16 percent since the beginning of the year, while the Standard & Poor's 500 index has fallen almost 7 percent. In the final minutes of trading on Tuesday, shares hit $60.35, a decrease of 23 percent in the last 12 months.
Keywords: Capital One, Earnings Report, Priority Earnings