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Click on individual bank names in the table below to access American Banker's coverage of each company's earnings report.
October 25
Capital One Financial (COF) saw its profits dip in the third quarter as revenues from its flagship credit card business diminished.
The McLean, Va., firm reported quarterly net income Thursday of $1.1 billion, or $1.86 per diluted common share. That beat the $1.78 per share average estimate of analysts surveyed by Bloomberg, but it was below the $2.01 in earnings per share generated in the same period a year ago.
"Our businesses continue to deliver attractive, sustainable, and resilient returns," Richard Fairbank, Capital One's chairman and chief executive officer, said in a press release. "We remain focused on important levers that will sustain and improve our profitability and our ability to distribute capital."
In Capital One's credit card business, net revenue fell to $3.6 billion, a decline of about 6% from the same period a year earlier. At the same time, noninterest expenses rose by about 6%.
Companywide, net revenue fell by about 2% from the year-earlier period, while non-interest expenses rose by about 3%.
Capital One's performance was buoyed by growth in commercial banking revenue. Commercial loans outstanding grew 14% compared to the same period a year earlier, the firm reported, driven by growth in business and commercial real estate loans.
