MCLEAN, Va. (AP) _ Capital One Financial Corp. (COF) on Tuesday reported fourth-quarter earnings of $1.18 billion.
The McLean, Virginia-based company said it had net income of $2.25 per share. Earnings, adjusted for non-recurring costs and to account for discontinued operations, were $2.49 per share.
The results beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $2.35 per share.
The credit card issuer and bank posted revenue of $8.63 billion in the period. Its adjusted revenue was $7.43 billion, also surpassing Street forecasts. Seven analysts surveyed by Zacks expected $7.35 billion.
For the year, the company reported profit of $5.55 billion, or $11.05 per share. Revenue was reported as $28.59 billion.
Capital One shares have fallen nearly 1% since the beginning of the year, while the Standard & Poor's 500 index has climbed roughly 3%. In the final minutes of trading on Tuesday, shares hit $102.19, an increase of 20% in the last 12 months.