Capital One misses 2Q profit forecasts

MCLEAN, Va. – MCLEAN, Va. (AP) _ Capital One Financial Corp. (COF) on Thursday reported second-quarter earnings of $942 million.

On a per-share basis, the McLean, Virginia-based company said it had profit of $1.69. Earnings, adjusted for non-recurring costs and to account for discontinued operations, came to $1.76 per share.

The results did not meet Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of $1.86 per share.

The credit card issuer and bank posted revenue of $6.25 billion in the period, which matched Street forecasts.

Capital One shares have dropped nearly 6 per cent since the beginning of the year, while the Standard & Poor’s 500 index has climbed roughly 6 per cent. In the final minutes of trading on Thursday, shares hit $67.99, a decrease of 26 per cent in the last 12 months.


This story was generated by Automated Insights ( using data from Zacks Investment Research. Access a Zacks stock report on COF at


Keywords: Capital One, Earnings Report, Priority Earnings