Capital One Shares Up 5% After Earnings Beat

By Claudia AssisMarketsMarketWatch Pulse

Shares of Capital One Financial Corp. rose 5% late Thursday after the credit-card company reported second-quarter earnings above expectations and revenue in line with forecasts. Capital One said it earned $1 billion, or $1.94 a common share, in the quarter, compared with $942 million, or $1.69 a share, in the second quarter of 2016. Adjusted for one-time items, including costs related to the anticipated close of the Cabela's acquisition, the company earned $1.96 a share in the quarter. Analysts polled by FactSet had expected adjusted earnings of $1.90 a share on sales of $6.66 billion. The shares ended the regular session down 0.5%.

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