Workflow
Capital One (COF) Misses Q2 Earnings and Revenue Estimates
COFCapital One(COF) ZACKS·2024-07-23 22:20

Earnings Performance - Capital One reported quarterly earnings of 3.14pershare,missingtheZacksConsensusEstimateof3.14 per share, missing the Zacks Consensus Estimate of 3.28 per share, and down from 3.52pershareayearago,representinganearningssurpriseof−4.273.52 per share a year ago, representing an earnings surprise of -4.27% [1] - The company posted revenues of 9.51 billion for the quarter ended June 2024, slightly missing the Zacks Consensus Estimate by 0.03%, and up from 9.01billionyear−over−year[1]MarketPerformance−CapitalOneshareshaveincreasedbyapproximately10.79.01 billion year-over-year [1] Market Performance - Capital One shares have increased by approximately 10.7% since the beginning of the year, compared to the S&P 500's gain of 16.7% [2] Future Outlook - The current consensus EPS estimate for the upcoming quarter is 3.98 on revenues of 9.67billion,andforthecurrentfiscalyear,itis9.67 billion, and for the current fiscal year, it is 13.40 on revenues of 38.48billion[4]−TheestimaterevisionstrendforCapitalOneismixed,resultinginaZacksRank3(Hold),indicatingexpectedperformanceinlinewiththemarketinthenearfuture[4]IndustryContext−TheFinancial−ConsumerLoansindustry,towhichCapitalOnebelongs,iscurrentlyinthetop3638.48 billion [4] - The estimate revisions trend for Capital One is mixed, resulting in a Zacks Rank 3 (Hold), indicating expected performance in line with the market in the near future [4] Industry Context - The Financial - Consumer Loans industry, to which Capital One belongs, is currently in the top 36% of over 250 Zacks industries, suggesting a favorable outlook compared to the bottom 50% [5] - Another company in the same industry, PROG Holdings, is expected to report quarterly earnings of 0.71 per share, reflecting a year-over-year decline of -22.8% [5][6]