Capital One Finl Q1 Adj $3.21 Misses $3.31 Estimate, Sales $9.40B Beat $9.34B Estimate
Portfolio Pulse from Benzinga Newsdesk
Capital One Financial (COF) reported Q1 adjusted earnings of $3.21 per share, missing the consensus estimate of $3.31, but saw a 38.96% increase from last year's earnings. Sales reached $9.40B, exceeding the $9.34B estimate and marking a 5.60% increase from the previous year.
April 25, 2024 | 8:07 pm
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NEUTRAL IMPACT
Capital One's Q1 earnings missed estimates but showed significant year-over-year growth in both earnings and sales.
Although COF missed the earnings estimate, the year-over-year growth in earnings and sales could be seen positively by investors. The miss on earnings per share (EPS) estimates might cause some short-term negative sentiment, but the sales beat and significant growth compared to last year could offset this. The mixed results make the short-term impact neutral, as the positive sales performance may balance out the negative sentiment from the earnings miss.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100