Capital One's more than doubles in 4Q

Higher revenue boosts Capital One Financial 4Q net, shares drop as results miss Street views

Associated Press

LOS ANGELES (AP) -- Capital One Financial Corp. says its fourth-quarter net income grew more than twofold, as revenue for the lender rose by 38 percent from a year earlier.

McLean, Virginia-based Capital One said Thursday that net income rose to $825 million, or $1.41 per share. That compares with $381 million, or 88 cents per share, in the same period a year ago.

Revenue rose to $5.62 billion from $4.05 billion.

The results fell short of Wall Street expectations. Analysts polled by FactSet expected earnings of $1.58 per share on revenue of $5.76 billion.

Capital One shares fell $3.69, or 6 percent, to $57.90 in after-hours trading.

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