MCLEAN, Va. (AP) _ Capital One Financial Corp. (COF) on Thursday reported third-quarter earnings of $1.11 billion.
On a per-share basis, the McLean, Virginia-based company said it had net income of $1.98. Earnings, adjusted to account for discontinued operations, came to $1.99 per share.
The results surpassed Wall Street expectations. The average estimate of 14 analysts surveyed by Zacks Investment Research was for earnings of $1.93 per share.
The credit card issuer and bank posted revenue of $5.9 billion in the period, also exceeding Street forecasts. Eight analysts surveyed by Zacks expected $5.86 billion.
Capital One shares have declined 9 per cent since the beginning of the year, while the Standard & Poor's 500 index has stayed nearly flat. In the final minutes of trading on Thursday, shares hit $74.94, a fall of nearly 4 per cent in the last 12 months.
_____
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 http://www.zacks.com/ap/COF
_____
Keywords: Capital One, Earnings Report, Priority Earnings
This content appears as provided to The Globe by the originating wire service. It has not been edited by Globe staff.