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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Capital One Financial Corporation | NYSE:COF | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
6.45 | 4.66% | 144.86 | 144.64 | 140.21 | 140.82 | 3,018,256 | 01:00:00 |
By Robert Barba
Capital One Financial Corp. reported better-than-expected results in the latest quarter, largely a result of growth in non-interest income.
The bank holding company reported first-quarter net income of $2.4 billion in the latest quarter, compared with $3.33 billion a year earlier. Both figures are before preferred stock dividends and dividends and undistributed earnings allocated to participating securities.
Earnings per share were $5.62. Analysts polled by FactSet expected $5.50 a share.
Net interest income was $6.4 billion, up 10% from a year earlier. Non-interest income was $1.78 billion, up 38%.
Total revenue of $8.17 billion was ahead of the $8.02 billion analysts expected. Net interest income missed expectations, while non-interest income beat.
The company booked $677 million in provision for credit losses, compared with $381 million in the prior quarter and a Credit benefit of $823 million a year earlier.
Write to Robert Barba at robert.barba@wsj.com
(END) Dow Jones Newswires
April 26, 2022 16:39 ET (20:39 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
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