MCLEAN, Va. - Capital One Financial Corporation (NYSE: NYSE:COF) disclosed second-quarter earnings that fell short of Wall Street expectations.
The company reported adjusted earnings per share (EPS) of $3.14, which was below the analyst consensus of $3.42. Revenue for the quarter was also slightly below expectations at $9.51 billion, compared to the consensus estimate of $9.56 billion.
""We posted strong second quarter results while continuing to lean into opportunities to grow and further strengthen our domestic card and national consumer banking franchises," said Richard D. Fairbank, Founder, Chairman, and Chief Executive Officer.
"And we're all in and working hard to complete the Discover acquisition, which will create a consumer banking and global payments platform with the potential to enhance competition, deliver compelling financial results, and create significant value for merchants, small businesses, and consumers," he added
The financial services company, known for its credit card offerings and consumer banking services, experienced a challenging quarter as it navigated through a dynamic economic environment. Despite these headwinds, Capital One's revenue saw a marginal increase from the same period last year.
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