Daily Journal masthead

Capital One misses 2Q earnings and revenue expectations


MCLEAN, Virginia — Capital One Financial Corp. (COF) on Thursday reported second-quarter net income of $863 million.

On a per-share basis, the McLean, Virginia-based company said it had net income of $1.50. Earnings, adjusted for one-time gains and costs, were $1.78 per share.

The results did not meet Wall Street expectations. The average estimate of 15 analysts surveyed by Zacks Investment Research was for earnings of $1.97 per share.

The credit card issuer and bank posted revenue of $5.67 billion in the period, also falling short of Street forecasts. Nine analysts surveyed by Zacks expected $5.76 billion.

Capital One shares have climbed 10 percent since the beginning of the year, while the Standard & Poor's 500 index has risen 2 percent. In the final minutes of trading on Thursday, shares hit $90.77, a rise of 11 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 http://www.zacks.com/ap/COF


Keywords: Capital One, Earnings Report, Priority Earnings

Think your friends should see this? Share it with them!

Story copyright 2015 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Feedback, Corrections and Other Requests: AP welcomes feedback and comments from readers. Send an email to info@ap.org and it will be forwarded to the appropriate editor or reporter.

We also have more stories about:
(click the phrases to see a list)


Follow Daily Journal:

All content copyright ©2015 Daily Journal, a division of Home News Enterprises unless otherwise noted.
All rights reserved. Privacy policy.