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Capital One Stock Climbs After Better-Than-Expected Q3 Results: Details
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Capital One Stock Climbs After Better-Than-Expected Q3 Results: Details
Nov 3, 2024 11:06 AM

Capital One Financial Corp. ( COF ) reported its third-quarter results after Thursday's closing bell. Here's a look at the key figures from the report.  

The Details: Capital One Financial ( COF ) reported quarterly earnings of $4.51 per share, which beat the analyst consensus estimate of $3.76. Quarterly revenue came in at $10.014 billion, which beat the analyst consensus estimate of $9.861 billion and is an increase over sales of $9.366 billion from the same period last year.

Period-end loans held for investment in the quarter increased $2.1 billion, or 1%, to $320.2 billion.

Credit Card period-end loans increased $2.8 billion, or 2%, to $156.7 billion.

Domestic Card period-end loans increased $2.3 billion, or 2%, to $149.4 billion.

Consumer Banking period-end loans increased $1.1 billion, or 1%, to $76.8 billion.

Auto period-end loans increased $1.1 billion, or 2%, to $75.5 billion.

Commercial Banking period-end loans decreased $1.8 billion, or 2%, to $86.8 billion.

Average loans held for investment in the quarter increased $3.4 billion, or 1%, to $318.3 billion.

Credit Card average loans increased $3.5 billion, or 2%, to $154.0 billion.

Domestic Card average loans increased $3.3 billion, or 2%, to $147.0 billion.

Consumer Banking average loans increased $796 million, or 1%, to $76.2 billion.

Auto average loans increased $822 million, or 1%, to $74.9 billion.

Commercial Banking average loans decreased $934 million, or 1%, to $88.1 billion.

Read Next: Boeing Strike Drags On: Union Contract Rejection ‘Adds Further Uncertainty, Costs, Recovery Delays,’ Says Analyst

“Strong third-quarter results included top-line growth in our domestic card and auto businesses and stable consumer credit results,” said Richard D. Fairbank, founder, chairman, and CEO. “On the Discover acquisition, we continue to work through the regulatory approval process, and we’re fully mobilized to plan and deliver a successful integration.”

COF Price Action: According to Benzinga Pro, Capital One Financial ( COF ) shares are up 2.83% after-hours at $157.60 at the time of publication Thursday.

Read Also: 

Bank Of America CEO Cautions Fed Not To ‘Go Too Fast Or Too Slow’ On Interest Rate Cuts

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