Reported about 1 month ago
Capital One Financial Corp. has announced a profit of $1.78 billion, surpassing Wall Street's expectations thanks to growth in its credit card and auto loan sectors. Adjusted earnings per share reached $4.51, above the $3.77 analysts anticipated. Despite facing regulatory scrutiny over its proposed $35 billion acquisition of Discover Financial Services, Capital One remains optimistic about completing the deal early next year. In the third quarter, credit card loans rose by $2.8 billion and auto loans increased by $1.1 billion. Overall net revenue climbed 5% to $10 billion.
Source: YAHOO