Capital One 4Q profit rises 2 percentJanuary 16, 2014 @ 2:55 pm
McLEAN, Va. (AP) - Capital One Financial Corp. says its fourth-quarter profit rose 2 percent, even as income earned from loans declined.
McLean, Va.-based Capital One said Thursday that net income after paying preferred dividends was $842 million, or $1.45 per share, for the three months ended Dec. 31. That compares with net income of $825 million, or $1.41 per share, a year earlier. Revenue slipped 1 percent, to $5.54 billion from $5.62 billion.
Analysts polled by FactSet, on average, expected earnings of $1.54 per share on $5.46 billion in revenue.
The lender says loans fell in its U.S. credit card and home loan divisions, while auto loans increased.
Capital One shares are off 2 percent to $74.90 in extended trading.
(Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)
Joining the LOB
It's never easy being the new guy, but Tharold Simon is already making his mark
Our phones entertain us, inform us and now might protect us
Pumpkin-flavored items are coming to store shelves whether it's fall or not
Please login below with your Facebook, Twitter, Google+ or Disqus account. Existing MyNorthwest account holders will need to create a new Disqus account or use one of the social logins provided below. Thank you.