Capital One Financial Corp Misses Q3 Views On Flat Results

Capital One Financial Corp.'s

missed Wall Street's expectations Thursday, posting a minor decline in third-quarter income . The McLean, Va,-based credit card and banking company posted earnings of $1.06 billion, or $1.86 a share, down from $1.09 billion, or $1.84 a share in the year-earlier period when there were fewer shares outstanding. Revenue of $5.64 billion for the recent period compared with $5.65 billion last year. Analysts expected earnings of $1.94 a share, on revenue of $5.56 billion. The company posted net interest income of $4.5 billion versus $4.56 billion a year earlier, while its provision for bad loans increased 41 percent to $993 million. "We have the financial strength to deliver very attractive risk-adjusted returns while we invest to drive future growth and be a leader in digital banking," Chief Executive Richard D. Fairbank In Thursday's extended session, Capital One changed hands recently at $77.50 a share, down 1.3 percent.