Capital One shares slip after mixed second quarter earnings
COF
-2.52%
Add to/Remove from Watchlist
Add to Watchlist
Add Position
Position added successfully to:
Please name your holdings portfolio
Type:
BUY
SELL
Date:
Amount:
Price
Point Value:
Leverage:
1:1
1:10
1:25
1:50
1:100
1:200
1:400
1:500
1:1000
Commission:
Create New Watchlist
Create
Create a new holdings portfolio
Add
Create
+ Add another position
Close
Investing.com — Capital One Financial Corporation (NYSE:COF) shares slipped after the financial company reported mixed second quarter results.
Shares were down 1.4% in after-hours trading but are up 23% so far this year.
Earnings per share of $3.52 and revenue of $9 billion compared with Wall Street estimates for earnings per share of $3.29 and revenue of $9.13B. Revenue was up 9% from the same time last year.
The provision for credit losses fell $305 million from the first quarter, to $2.5B, the company said. The net interest margin in the quarter was 6.48%, a decrease of 12 basis points from the first quarter, it added.
Period-end total deposits decreased $6.1B, or 2%, from the first quarter, and average deposits increased $3.6B, or 1%, to $343.7B.
“We continue to lean into attractive opportunities to grow and build our franchise in our domestic card and national retail bank businesses, and our opportunities are enhanced by our technology transformation,” said CEO Richard D. Fairbank. “Our investments to build and leverage a modern technology infrastructure are expanding our opportunities and driving value creation over the long-term.”
