FX.co ★ Capital One Financial Corp. Q4 Profit Decreases, misses estimates

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.