Stock Index

Capital One’s Stock Gets 5 Percent Boost

Capital One’s Q2 earnings are in and have beat Wall Street analysts’ expectations.

While analysts polled by Reuters expected Capital One’s earnings to trade at $1.90 per share, equaling $6.67 billion in revenue, its shares rose 4.8 percent after trading hours ended. Its reported profit for Q2 2017 is $1 billion, which comes to $1.94 per share at a 7 percent increase to $6.7 billion.

Within the second quarter, Capital One decreased its credit losses provisions 10 percent down to $1.8 billion.

Capital One’s Chairman and Chief Executive Officer, Richard D. Fairbank, commented on the bank’s Q2 shares in its news release and highlighted its plans for growth down the line.

“We delivered another quarter of resilient growth across our businesses,” said Fairbank. “We’re investing to grow and transform our company as banking goes digital, we’re driving improving efficiency and we are building an enduring customer franchise. We continue to be in a strong position to deliver attractive growth and returns, as well as significant capital distribution, subject to regulatory approval.”

In a payments industry where many consumers are using contactless payments on an increasing scale, Capital One’s Q2 2017 earnings soaring past Wall Street’s expectations is significant. It shows that the banking industry is strong and likely won’t go down without a fight.

——————————–

Latest Insights: 

The Which Apps Do They Want Study analyzes survey data collected from 1,045 American consumers to learn how they use merchant apps to enhance in-store shopping experiences, and their interest in downloading more in the future. Our research covered consumers’ usage of in-app features like loyalty and rewards offerings and in-store navigation, helping to assess how merchants can design apps to distinguish themselves from competitors.

Click to comment

TRENDING RIGHT NOW

To Top