Capital One Profit Exceeds Estimates as Lending Margins Improve
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Capital One Financial Corp., the worst performer this year in the KBW Bank Index, reported a first-quarter profit that beat analysts’ estimates as lending margins improved.
Net income fell 24 percent to $1.07 billion, or $1.79 a share, from $1.4 billion, or $2.72, a year earlier, the McLean, Virginia-based company said yesterday in a statement. Income from continuing operations, which excludes some items, was $1.92 a share, compared with the $1.62 average estimate of 27 analysts surveyed by Bloomberg.