Why Capital One Financial Rallied Today
Shares of Capital One Financial (NYSE: COF) rallied as much as 9.5% on Friday, before pulling back to a 5.6% gain as of 2:25 p.m. ET.
The tech-savvy credit card and auto lender reported earnings last night, showing a healthy beat of analyst expectations and a significant increase in net interest income. Investors cheered the results.
Capital One delivered $10 billion in revenue in the quarter, up 7% year-over-year, and adjusted (non-GAAP) earnings per share of $4.51 per share, up just 1.3%. Still, both figures came in ahead of expectations.
Source Fool.com
