Capital One: 2Q Earnings Snapshot

MCLEAN, Va. (AP) _ Capital One Financial Corp. (COF) on Tuesday reported a second-quarter loss of $918 million, after reporting a profit in the same period a year earlier.

On a per-share basis, the McLean, Virginia-based company said it had a loss of $2.21. Losses, adjusted for non-recurring costs and to account for discontinued operations, were $1.61 per share.

The results missed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for a loss of $1.25 per share.

The credit card issuer and bank posted revenue of $7.41 billion in the period. Its adjusted revenue was $6.56 billion, also missing Street forecasts. Seven analysts surveyed by Zacks expected $6.88 billion.

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Capital One shares have fallen 39% since the beginning of the year, while the Standard & Poor’s 500 index has climbed nearly 1%. In the final minutes of trading on Tuesday, shares hit $62.52, a drop of 32% in the last 12 months.

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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 https://www.zacks.com/ap/COF

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