MCLEAN, Va. (AP) — Capital One Financial Corp. (COF) on Tuesday reported fourth-quarter profit of $791 million.
On a per-share basis, the McLean, Virginia-based company said it had profit of $1.45.
The results missed Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of $1.60 per share.
The credit card issuer and bank posted revenue of $7.13 billion in the period. Its adjusted revenue was $6.57 billion, which also fell short of Street forecasts. Nine analysts surveyed by Zacks expected $6.61 billion.
Capital One shares have risen roughly 2 percent since the beginning of the year, while the Standard & Poor’s 500 index has increased nearly 2 percent. In the final minutes of trading on Tuesday, shares hit $88.73, a climb of 51 percent 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
_____
Keywords: Capital One, Earnings Report, Priority Earnings
Copyright 2017 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed
Spartan Echo 