Capital One Beats 1Q Expectations on Fee Income
April 26 2022 - 3:54PM
Dow Jones News
By Robert Barba
Capital One Financial Corp. reported better-than-expected
results in the latest quarter, largely a result of growth in
non-interest income.
The bank holding company reported first-quarter net income of
$2.4 billion in the latest quarter, compared with $3.33 billion a
year earlier. Both figures are before preferred stock dividends and
dividends and undistributed earnings allocated to participating
securities.
Earnings per share were $5.62. Analysts polled by FactSet
expected $5.50 a share.
Net interest income was $6.4 billion, up 10% from a year
earlier. Non-interest income was $1.78 billion, up 38%.
Total revenue of $8.17 billion was ahead of the $8.02 billion
analysts expected. Net interest income missed expectations, while
non-interest income beat.
The company booked $677 million in provision for credit losses,
compared with $381 million in the prior quarter and a Credit
benefit of $823 million a year earlier.
Write to Robert Barba at robert.barba@wsj.com
(END) Dow Jones Newswires
April 26, 2022 16:39 ET (20:39 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
Capital One Financial (NYSE:COF)
Historical Stock Chart
From Jun 2024 to Jul 2024
Capital One Financial (NYSE:COF)
Historical Stock Chart
From Jul 2023 to Jul 2024
