Capital One Financial Corp. recently reported a decrease in its fourth quarter earnings compared to the same period in the previous year, falling short of Wall Street forecast.
The company registered a net income of $640 million, equivalent to $1.67 per share. This figure stands lower than the $1.16 billion, or $3.03 per share reported in the fourth quarter of last year.
After accounting for special items, the company's adjusted earnings were $1.08 billion, or $2.24 per share.
According to data compiled by Thomson Reuters, analysts had projected an average earning of $2.64 per share. It's worth noting that such estimates often neglect special items.
Capital One's revenue for the quarter demonstrated some growth, increasing by 5.2% to reach $9.51 billion, up from last year's $9.04 billion.
To summarise, according to GAAP:
- Fourth quarter earnings were $0.64 billion, dropping from $1.16 billion compared to last year.
- Fourth quarter Earnings Per Share (EPS) was $1.67 down from $3.03 last year.
- Analyst estimates were set at $2.64.
- Fourth quarter revenue stood at $9.51 billion, indicating an increment from $9.04 billion last year.
