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Why Capital One Financial Rallied Today

TheMotleyFool

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Why Capital One Financial Rallied TodayPhoto, wide shot, wide-angle lens, soft focus, Auto parts supplier, sunset photo at golden hour, photo by Thomas Heaton: https://oaidalleapiprodscus.blob.core.windows.net/private/org-IbuNdCATsFaPOITjFOv2kJh3/user-AXaxqjBUW45D8BadJEo9mUpW/img-ZpZWLOA2q1Lrbc78ceLTs90l.png?st=2023-05-15T05%3A50%3A02Z&se=2023-05-15T07%3A50%3A02Z&sp=r&sv=2021-08-06&sr=b&rscd=inline&rsct=image/png&skoid=6aaadede-4fb3-4698-a8f6-684d7786b067&sktid=a48cca56-e6da-484e-a814-9c849652bcb3&skt=2023-05-14T21%3A19%3A00Z&ske=2023-05-15T21%3A19%3A00Z&sks=b&skv=2021-08-06&sig=aAZzsKm3Fg0e2CB07XvcACW5j1LlZPrsv8bXoWdHs6k%3D

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

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