Capital One misses 4Q profit expectations, tops revenue forecasts

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MCLEAN, Virginia — Capital One Financial Corp. (COF) on Thursday reported fourth-quarter profit of $999 million.

The McLean, Virginia-based company said it had profit of $1.73 per share. Earnings, adjusted to account for discontinued operations, came to $1.68 per share.

The results did not meet Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of $1.74 per share.

The credit card issuer and bank posted revenue of $5.81 billion in the period, topping Street forecasts. Analysts expected $5.69 billion, according to Zacks.

Capital One shares have dropped 7.5 percent since the beginning of the year, while the Standard & Poor's 500 index has stayed nearly flat. In the final minutes of trading on Thursday, shares hit $76.33, an increase of 5 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 http://www.zacks.com/ap/COF

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Keywords: Capital One, Earnings Report, Priority Earnings

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