Capital One Financial (COF) used growth in its commercial banking and auto lending businesses to build its earnings in the second quarter. The McLean, Va.-based company reported net income of $1.2 billion, or $2.04 per share, which was up from $1.1 billion, or $1.85 per share in the same period a year earlier. Its earnings per share beat by more than 20 cents the consensus of analysts polled by Bloomberg. "Capital One posted another quarter of solid growth and profitability," Chief Executive Richard Fairbank said in a news release Thursday. The company's total net revenue fell by 3%, as compared with a year earlier, and its net interest margin fell by 28 basis points to 6.55%. Noninterest expenses fell by 1% from the second quarter of 2013. Capital One's flagship business, U.S. credit cards, showed mixed signals in the second quarter. Purchase volume was up 11% from a year earlier, and period-end loans held for investment were up 1%, while chargeoffs were down substantially.