Capital One Financial’s (COF.N)
profit fell 61% in the second quarter, it reported on Tuesday, as it set aside more money to cover losses on loans.
Net income available to common stockholders fell to $531 million or $1.38 per share versus $1.35 billion or $3.52 per share a year earlier.
“The U.S. consumer remains a source of strength in the overall economy,” CEO Richard Fairbank told analysts on a conference call.
Source: REUTER
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