MCLEAN, Va. (AP) _ Capital One Financial Corp. (COF) on Tuesday reported fourth-quarter net income of $1.18 billion.

The McLean, Virginia-based company said it had profit of $2.25 per share. Earnings, adjusted for non-recurring costs and to account for discontinued operations, were $2.49 per share.

The results surpassed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $2.35 per share.

The credit card issuer and bank posted revenue of $8.63 billion in the period. Its adjusted revenue was $7.43 billion, also beating Street forecasts. Seven analysts surveyed by Zacks expected $7.35 billion.

Capital One shares have decreased almost 1% since the beginning of the year, while the Standard & Poor's 500 index has climbed almost 3%. In the final minutes of trading on Tuesday, shares hit $102.19, a rise of 20% in the last 12 months.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on COF at https://www.zacks.com/ap/COF

© 2020 The Canadian Press. All rights reserved., source Canadian Press DataFile