MCLEAN, Va. (AP) — MCLEAN, Va. (AP) — Capital One Financial Corp. (COF) on Thursday reported first-quarter profit of $960 million.
On a per-share basis, the McLean, Virginia-based company said it had net income of $2.31.
The results did not meet Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of $3.80 per share.
The credit card issuer and bank posted revenue of $11.47 billion in the period. Its adjusted revenue was $8.9 billion, which also fell short of Street forecasts. Eleven analysts surveyed by Zacks expected $9 billion.
_____
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 https://www.zacks.com/ap/COF
Copyright © 2024 The Associated Press. All rights reserved. This material may not be published, broadcast, written or redistributed.
