Capital One's Earnings Beat Estimates, Net Revenue Falls
October 23 2018 - 4:51PM
Dow Jones News
By Aisha Al-Muslim
Capital One Financial Corp. (COF) on Tuesday reported a profit
for the third quarter of $1.5 billion, or $2.99 a share, up from
$1.11 billion, or $2.14 a share, a year earlier. Adjusted earnings
were $3.12 a share, beating the $2.88 a share analysts polled by
Refinitiv were looking for.
Net revenue for the credit-card and banking company dropped 3%
to $6.96 billion, still ahead of the consensus forecast of $6.89
billion.
Net interest income rose to $5.79 billion from $5.7 billion a
year earlier. The company's net interest margin fell to 7.01% from
7.08%.
The company's net loans held for investment were $231.54
billion, compared with $245 billion in the same period a year ago.
Capital One's provision for credit losses decreased by 1% to $1.3
billion.
Write to Aisha Al-Muslim at aisha.al-muslim@wsj.com
(END) Dow Jones Newswires
October 23, 2018 16:36 ET (20:36 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
Capital One Financial (NYSE:COF)
Historical Stock Chart
From Sep 2024 to Oct 2024
Capital One Financial (NYSE:COF)
Historical Stock Chart
From Oct 2023 to Oct 2024