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.
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