MCLEAN, Va. (AP) — MCLEAN, Va. (AP) — Capital One Financial Corp. (COF) on Tuesday reported a loss of $4.28 billion in its second quarter.
On a per-share basis, the McLean, Virginia-based company said it had a loss of $8.58. Earnings, adjusted for non-recurring costs and to account for discontinued operations, were $5.48 per share.
The results exceeded Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $3.83 per share.
The credit card issuer and bank posted revenue of $16.33 billion in the period. Its adjusted revenue was $12.49 billion, also surpassing Street forecasts. Eight analysts surveyed by Zacks expected $12.22 billion.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on COF at https://www.zacks.com/ap/COF
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