Capital One Financial Earnings: Here’s Why Investors are Excited Now
Capital One Financial Corp. (NYSE:COF) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 1.42%.
Capital One Financial Corp. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 1068.75% to $1.87 in the quarter versus EPS of $0.16 in the year-earlier quarter.
Revenue: Decreased 0.79% to $5.64 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Capital One Financial Corp. reported adjusted EPS income of $1.87 per share. By that measure, the company beat the mean analyst estimate of $1.72. It beat the average revenue estimate of $5.53 billion.
Quoting Management: “We delivered solid performance across each of our businesses during the quarter, and we continue to generate significant capital,” said Richard D. Fairbank, Chairman and CEO. “We will continue to tightly manage costs and credit quality, drive resilient growth in businesses we are emphasizing, and focus on returning capital to our investors to deliver sustained shareholder value.”
Key Stats (on next page)…