Capital One Financial Corp. returned to profitability in the third quarter.
The $168.5 billion-asset McLean, Va., company earned $425.6 million, compared to $374.1 million a year earlier. At 94 cents a share, the third quarter profit easily surpassed the average analysts' estimates of 14 cents, according to Thomson Reuters.
The loan-loss provision rose 25.6% in the second quarter and 7.2% from a year earlier, to $1.17 billion. Net chargeoffs rose 0.7% from the second quarter and 29.2% from a year earlier, to $1.13 billion.
