Capital One Beats EPS Expectations, Falls Short for Net Revenue -- Earnings Review
25 April 2018 - 7:07AM
Dow Jones News
By Aisha Al-Muslim
Capital One Financial Corp. (COF) reported its first-quarter
results after the close of trading Tuesday. Here's what you need to
know.
PROFIT: Net income for the credit-card and banking company was
$1.35 billion, or $2.62 a share, compared with $810 million, or
$1.54 a share, for the same quarter a year before. Excluding $19
million of restructuring charges recorded in the quarter, adjusted
earnings were $2.65 a share, beating the $2.33 a share analysts
polled by Thomson Reuters were looking for.
REVENUE: Net revenue rose 6% to $6.91 billion compared with the
same quarter a year before, but missed the consensus forecast of
$6.94 billion.
NET INTEREST INCOME/NIM: Net interest income rose 4% to $5.72
billion. The company's net interest margin expanded to 6.93% from
6.88%.
LOAN BOOK: The company's net loans held for investment were
$240.69 million, compared with $233.6 million in the same period a
year ago. Capital One's provision for credit losses declined 16% to
$1.67 billion.
STOCK MOVE: The stock has risen less than 1% to $97.90 in
after-hours trading Tuesday. Shares are up 15% in the last
year.
Write to Aisha Al-Muslim at aisha.al-muslim@wsj.com
(END) Dow Jones Newswires
April 24, 2018 16:52 ET (20:52 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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