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Lender Capital One Financial's 4Q profit rises 2 per cent, but revenue declines

FILE - In this Jan. 14, 2014, file photo, a Capital One sign is displayed in Philadelphia. Capital One Financial Corp. reports quarterly financial results after the market close on Thursday, Jan. 16, 2014. (AP Photo/Matt Rourke, File)

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FILE - In this Jan. 14, 2014, file photo, a Capital One sign is displayed in Philadelphia. Capital One Financial Corp. reports quarterly financial results after the market close on Thursday, Jan. 16, 2014. (AP Photo/Matt Rourke, File)

MCLEAN, Va. - Capital One Financial Corp. says its fourth-quarter profit rose 2 per cent, even as income earned from loans declined.

McLean, Va.-based Capital One said Thursday that net income after paying preferred dividends was $842 million, or $1.45 per share, for the three months ended Dec. 31. That compares with net income of $825 million, or $1.41 per share, a year earlier. Revenue slipped 1 per cent, to $5.54 billion from $5.62 billion.

Analysts polled by FactSet, on average, expected earnings of $1.54 per share on $5.46 billion in revenue.

The lender says loans fell in its U.S. credit card and home loan divisions, while auto loans increased.

Capital One shares are off 2 per cent to $74.90 in extended trading.

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