Business / Virginia

Capital One misses Street 4Q forecasts

FILE- This Friday, May 11, 2012, file photo, shows a Capital One Bank office, in New York. Capital One Financial Corporation reports financial results Tuesday, Jan. 24, 2017. (AP Photo/Mark Lennihan, File)

FILE- This Friday, May 11, 2012, file photo, shows a Capital One Bank office, in New York. Capital One Financial Corporation reports financial results Tuesday, Jan. 24, 2017. (AP Photo/Mark Lennihan, File)

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.

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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 https://www.zacks.com/ap/COF

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Keywords: Capital One, Earnings Report, Priority Earnings

 

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