Despite rising sales, Capital One Financial (COF) reported falling profit in the second quarter.

Earnings and Revenue

The company fell short of estimates with adjusted net income of 33 cents a share and revenues of $5.05 billion. Analysts were expecting adjusted net income of $1.34 a share and revenues of $5.16 billion. The company's reported EPS came in below the low estimate of 15 analysts of a profit of $1.

The company's net income for the quarter was $93 million. According to the reported number, this is down 89.8% from last year's levels. Revenue climbed 26.6% from $4.56 billion in the same period last year.

Company Fundamental Trends

History Against Expectations

The company missed estimates last quarter after surpassing the mark the quarter before. It reported net income of $1.56 versus a mean estimate of net income of $1.40 per share.

Official Comment:

"While second quarter results reflect significant purchase accounting impacts and other items, the strong underlying performance of our businesses continues to demonstrate that we're well positioned to deliver sustained shareholder value," said Richard Fairbank, Chairman and Chief Executive Officer. "We're focused on delivering that value, including distributing capital to shareholders through a meaningful dividend and opportunistic share buybacks, consistent with our long-standing commitment to maintaining a strong and resilient capital base."

Estimates provided by Zacks Investment Research and company fundamentals from Xignite Financials.