Capital One Financial reports fourth-quarter net income of $920 million



We also have more stories about:
(click the phrases to see a list)

Subjects:

Places:

 


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.

_____

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 http://www.zacks.com/ap/COF

_____

Keywords: Capital One, Earnings Report, Priority Earnings

All content copyright ©2016 Daily Reporter, a publication of AIM Media Indiana unless otherwise noted.
All rights reserved. Click here to read our privacy policy.
Daily Reporter • 22 W. New Road • Greenfield, IN 46140 • (317) 462-5528