MCLEAN, Va. – MCLEAN, Va. (AP) _ Capital One Financial Corp. (COF) on Tuesday reported third-quarter earnings of $1 billion.
The McLean, Virginia-based company said it had profit of $1.90 per share. Earnings, adjusted for non-recurring costs and to account for discontinued operations, were $2.05 per share.
The results exceeded Wall Street expectations. The average estimate of 14 analysts surveyed by Zacks Investment Research was for earnings of $1.94 per share.
The credit card issuer and bank posted revenue of $6.46 billion in the period, also surpassing Street forecasts. Ten analysts surveyed by Zacks expected $6.36 billion.
Capital One shares have climbed slightly more than 4 per cent since the beginning of the year, while the Standard & Poor’s 500 index has increased nearly 5 per cent. In the final minutes of trading on Tuesday, shares hit $75.39, a decrease of slightly more than 5 per cent 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
