Capital One Financial stock was surging Friday after the lender reported a strong third quarter amid rising interest rates and strong credit card performance.
“In the third quarter we continued to deliver solid results fueled by strong top-line growth in our domestic card business,” Chief Executive Richard Fairbank said in a press release after the close of trading Thursday. Capital One also reported net interest income of $7.42 billion for the quarter, a 6% increase from the prior year as interest rates remained elevated.
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