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Non-Tech : The Woodshed -- Ignore unavailable to you. Want to Upgrade?

To: steve from ihub who wrote (20304)	1/19/2005 10:36:25 PM
From: ldo79	Read Replies (1) \| Respond to of 60911

Add this to Wash. Mutual's not-so-stellar report: hmmmmm - "provision expenses" ========================================== Associated Press Capital One 4Q Profit Sinks 27 Percent Wednesday January 19, 4:46 pm ET Capital One Reports Fourth-Quarter Profit Sinks 27 Percent As Higher Expenses Cut Into Revenue MCLEAN, Va. (AP) -- Capital One Financial Corp. said Wednesday that fourth-quarter profit fell 27 percent as increased expenses offset higher revenue. The banking company earned $195.1 million, or 77 cents per share, down from $265.7 million, or $1.11 per share, a year ago. Revenue rose 10 percent to $2.31 billion from $2.1 billion. Net interest income rose 18 percent to $784.6 million and non-interest income increased 6 percent to $1.52 billion. Analysts expected earnings of 99 cents per share on sales of $2.76 billion. Capital One said lower earnings were due to higher marketing costs from launching new programs and increased and provision expenses. Fourth-quarter marketing expenses increased 76 percent to $511.1 million from $290.1 million.