MCLEAN, Va. (AP) _ Capital One Financial Corp. (COF) on Thursday reported third-quarter net income of $1.32 billion.
The McLean, Virginia-based company said it had profit of $2.69 per share. Earnings, adjusted for one-time gains and costs, came to $3.32 per share.
The results beat Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $2.87 per share.
The credit card issuer and bank posted revenue of $8.3 billion in the period. Its adjusted revenue was $6.96 billion, which fell short of Street forecasts. Eight analysts surveyed by Zacks expected $7.18 billion.
Capital One shares have risen 22% since the beginning of the year, while the Standard & Poor’s 500 index has increased 20%. In the final minutes of trading on Thursday, shares hit $91.98, a rise of 7% 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 https://www.zacks.com/ap/COF
The Associated Press