Capital One Profit Falls
January 26 2016 - 5:16PM
Dow Jones News
By Josh Beckerman
Capital One Financial Corp. said its profit fell 7.9%, hurt by
higher marketing and operating expenses, while revenue climbed.
As one of the country's largest credit-card lenders, Capital
One's results are often considered a gauge of consumer sentiment.
The company also offers traditional bank accounts, mortgages, auto
loans and commercial loans.
Capital One reported a profit of $920 million, or $1.58 a share
in the fourth quarter, compared with $999 million, or $1.73 a
share, in the same period a year earlier. Excluding one-time items,
earnings were $1.67 a share.
Revenue improved to $6.19 billion from $5.81 billion.
Analysts polled by Thomson Reuters expected a per-share profit
of $1.61 on revenue of $6.11 billion.
Noninterest expenses increased 10% to $3.5 billion, while
marketing costs rose 35% and operating expenses climbed 7%.
Write to Josh Beckerman at josh.beckerman@wsj.com
(END) Dow Jones Newswires
January 26, 2016 17:01 ET (22:01 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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