Capital One Shares Fall 2% On Q3 Results

Capital One shares fell 2% in after hours trading Thursday, after the company reported profit and sales that dipped below expectations. Capital One said it had net income of $1.08 billion, or $1.86 cents a share, in the quarter, compared to $1.1 billion, or $1.84 cents a share, in the year-earlier period. The company said adjusted per-share earnings came to $1.97, topping the FactSet consensus of 1.94 cents. Sales fell slightly to $5.64 billion for the quarter from $5.65 billion, but beat the FactSet consensus of $5.55 billion. Domestic credit cards balances were up 5% to $73.14 billion, and international card balances dipped 7% to $7.48 billion. Shares have gained 2.5% in the year to date, while the S&P 500 has gained 0.8%.