Capital One Beats EPS Expectations, Falls Short for Net Revenue -- Earnings Review

   By Aisha Al-Muslim 
 

Capital One Financial Corp. (COF) reported its first-quarter results after the close of trading Tuesday. Here's what you need to know.

PROFIT: Net income for the credit-card and banking company was $1.35 billion, or $2.62 a share, compared with $810 million, or $1.54 a share, for the same quarter a year before. Excluding $19 million of restructuring charges recorded in the quarter, adjusted earnings were $2.65 a share, beating the $2.33 a share analysts polled by Thomson Reuters were looking for.

REVENUE: Net revenue rose 6% to $6.91 billion compared with the same quarter a year before, but missed the consensus forecast of $6.94 billion.

NET INTEREST INCOME/NIM: Net interest income rose 4% to $5.72 billion. The company's net interest margin expanded to 6.93% from 6.88%.

LOAN BOOK: The company's net loans held for investment were $240.69 million, compared with $233.6 million in the same period a year ago. Capital One's provision for credit losses declined 16% to $1.67 billion.

STOCK MOVE: The stock has risen less than 1% to $97.90 in after-hours trading Tuesday. Shares are up 15% in the last year.

Write to Aisha Al-Muslim at [e-mail]

(END) Dow Jones Newswires

April 24, 2018 16:52 ET (20:52 GMT)

Copyright (c) 2018 Dow Jones & Company, Inc.