Why Shares of Capital One Are Up Today

Shares of Capital One Financial (NYSE: COF) traded up about 5% on Wednesday after the financial services giant reported better-than-expected fourth-quarter results and provided an optimistic outlook for 2020. The consumer market seems to be holding up well, and the bank is managing to deal with a low-interest-rate environment.

After markets closed Tuesday, Capital One reported fourth-quarter earnings of $2.49 per share, beating the $2.35 consensus estimate. Net revenue for the quarter came in at $7.43 billion, ahead of the $7.32 billion consensus estimate and up 7% year over year.

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Source Fool.com