MCLEAN, Va. (AP) _ Capital One Financial Corp. (COF) on Tuesday reported fourth-quarter net income of $1.26 billion, after reporting a loss in the same period a year earlier.
On a per-share basis, the McLean, Virginia-based company said it had net income of $2.48. Earnings, adjusted for non-recurring gains, were $1.87 per share.
The results fell short of Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $2.41 per share.
The credit card issuer and bank posted revenue of $8.24 billion in the period. Its adjusted revenue was $7.01 billion, which also did not meet Street forecasts. Seven analysts surveyed by Zacks expected $7.07 billion.
For the year, the company reported profit of $6.02 billion, or $11.82 per share. Revenue was reported as $28.08 billion.
Capital One shares have climbed 10 percent since the beginning of the year, while the Standard & Poor's 500 index has increased 5 percent. In the final minutes of trading on Tuesday, shares hit $83.48, a decrease of 20 percent in the last 12 months.
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