Capital One misses 2Q earnings and revenue expectations



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MCLEAN, Virginia — Capital One Financial Corp. (COF) on Thursday reported second-quarter net income of $863 million.

On a per-share basis, the McLean, Virginia-based company said it had net income of $1.50. Earnings, adjusted for one-time gains and costs, were $1.78 per share.

The results did not meet Wall Street expectations. The average estimate of 15 analysts surveyed by Zacks Investment Research was for earnings of $1.97 per share.

The credit card issuer and bank posted revenue of $5.67 billion in the period, also falling short of Street forecasts. Nine analysts surveyed by Zacks expected $5.76 billion.

Capital One shares have climbed 10 percent since the beginning of the year, while the Standard & Poor's 500 index has risen 2 percent. In the final minutes of trading on Thursday, shares hit $90.77, a rise of 11 percent 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 http://www.zacks.com/ap/COF

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Keywords: Capital One, Earnings Report, Priority Earnings

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