MCLEAN, Va. (AP) _ Capital One Financial Corp. (COF) on Tuesday reported fourth-quarter net income of $2.57 billion.
The McLean, Virginia-based company said it had profit of $5.35 per share. Earnings, adjusted for non-recurring gains, were $5.29 per share.
The results topped Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $2.85 per share.
The credit card issuer and bank posted revenue of $7.86 billion in the period. Its adjusted revenue was $7.34 billion, also beating Street forecasts. Eight analysts surveyed by Zacks expected $6.9 billion.
For the year, the company reported profit of $2.71 billion, or $5.18 per share. Revenue was reported as $28.52 billion.
Capital One shares have increased 1% since the beginning of the year, while the Standard & Poor’s 500 index has increased 2.5%. In the final minutes of trading on Tuesday, shares hit $99.93, a drop of 1% 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 https://www.zacks.com/ap/COF