Capital One: 3Q Earnings Snapshot

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.


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The Associated Press