Reported about 14 hours ago
Capital One Financial Corp. announced a significant increase in its third-quarter profits, surpassing Wall Street expectations, while also revealing plans to repurchase up to $16 billion in stock. The bank reported an 80% rise in net income, totaling $3.19 billion, and announced a rise in adjusted earnings per share to $5.95, exceeding analyst forecasts. Capital One's strong performance is attributed to its successful integration with Discover Financial Services, alongside a robust portfolio of consumer auto loans.
Source: YAHOO