Capital One Financial Down 6% After Reporting Lower Than Expected Earnings

Capital One Financial (NYSE: COF) is trading lower in pre-market following last night's earnings announcement. The company announced Q4 revenues $4.10 billion vs $4.14 billion estimates and EPS of $0.88.

CEO of Capital One, Richard D. Fairbank, said: "In 2011, we made significant investments to restart growth across our lending businesses after a long period of cyclical declines in loan volumes, and we're seeing these investments gain traction."

Capital One Financial is currently trading at $45.81, down $2.96 or 6.07% in pre-market.