Capital One Q1: Strong EPS, Revenue Miss
Capital One Financial outperformed first-quarter earnings expectations and fell just short of revenue expectations.
Capital One Financial (NYSE:COF), a major player in the credit card and banking industry, reported mixed first-quarter earnings on Tuesday, April 22. Adjusted EPS of $4.06 came in well ahead of analysts' consensus expectations of $3.64. However, revenue was slightly below forecasts at $10 billion, compared to the anticipated $10.06 billion.
Despite the revenue miss, the overall assessment of the quarter indicates a strong performance driven by effective cost management. Late last week, the company was notified that its $35 billion acquisition of Discover Financial Services (NYSE:DFS) had received regulatory approval.
Source: Capital One Financial. Note: Analyst consensus estimates for the quarter provided by FactSet. YOY = Year over year. bps = basis points.
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