MCLEAN, Va. (AP) — MCLEAN, Va. (AP) — Capital One Financial Corp. (COF) on Tuesday reported first-quarter net income of $2.17 billion.
The McLean, Virginia-based company said it had profit of $3.34 per share. Earnings, adjusted for non-recurring costs and to account for discontinued operations, came to $4.42 per share.
The results missed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $4.61 per share.
The credit card issuer and bank posted revenue of $19.32 billion in the period. Its adjusted revenue was $15.23 billion, also falling short of Street forecasts. Five analysts surveyed by Zacks expected $15.37 billion.
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