The Canadian PressApril 16, 2014 18:42
MCLEAN, Va. - Capital One Financial Corp. says its first-quarter profit edged up, even as income it receives from lending slipped.
After the market closed Wednesday, McLean, Va.-based Capital One reported net income of $1.14 billion, or $1.96 per share, for the three months ending March 31. That compares with net income of $1.04 billion, or $1.77 per share, in the same period of 2013. Revenue dipped 3 per cent to $5.37 billion from $5.55 billion.
On average, analysts expected earnings of $1.69 per share on $5.45 billion in revenue, according to the data provider FactSet.