Capital One Financial announced net income for the fourth quarter of 2013 of $859 million, or $1.45 per diluted common share, up from $843 million in the fourth quarter of 2012. Analysts polled by Thomson Reuters had expected earnings per share of $1.55.

Capital One noted that total Q4/13 net revenue of $5.54 billion was down from $5.62 billion for the same quarter in 2012 as net interest income declined from $4.53 billion in Q4/12 to $4.42 billion.

Net income for the full year 2013 was $4.2 billion, up 20.0% from $3.5 billion in 2012.

“Capital One delivered strong financial performance in 2013,” said Richard D. Fairbank, Chairman and CEO. “We remain focused on resilient growth, disciplined cost management, and returning capital to shareholders in 2014.”

To read the Capital One news release click here.