Capital One This fall earnings high estimates amid regular top-line progress

NEW YORK – Capital One Monetary (NYSE:COF) reported fourth quarter earnings that beat analyst expectations, however shares dipped barely in after-hours buying and selling on Tuesday.

The bank card issuer and financial institution posted adjusted earnings per share of $3.09, surpassing the $2.85 consensus estimate. Income got here in at $10.2 billion, in step with analyst projections.

Web revenue obtainable to widespread shareholders was $1.02 billion, or $2.67 per diluted share, in comparison with $639 million, or $1.67 per share, within the year-ago quarter.

“Our fourth quarter outcomes included regular top-line progress in our home card enterprise, robust originations and a return to mortgage progress in our auto enterprise, and steady credit score outcomes throughout our companies,” stated Richard D. Fairbank, Capital One’s Founder, Chairman and CEO.

The corporate’s bank card loans grew 5% YoY to $162.5 billion at quarter-end. Auto loans elevated 4% to $76.8 billion. Whole (EPA:TTEF) deposits rose 4% to $362.7 billion.

Capital One’s provision for credit score losses elevated to $2.64 billion from $2.86 billion a yr earlier. The web charge-off fee rose to three.59% from 3.21% in This fall 2023.

Shares of Capital One fell 0.38% in after-hours buying and selling following the earnings launch. The inventory had gained 2.7% throughout common buying and selling hours on Thursday forward of the report.

The corporate stated shareholder votes on its proposed acquisition of Uncover Monetary Providers (NYSE:DFS) are scheduled for February 18th. Capital One expects to finish the deal in early 2025, topic to regulatory approvals.

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