Capital One's share price has risen by more than 2% after it released analyst estimate-beating Q3 2006 earnings of $587.8 million, up from $491.1 million for the same period in 2005.

Managed loans at September 30, 2006 were $112.2 billion, up 32% from September 30, 2005, including $16.3 billion of loans acquired with the acquisition of Hibernia in November 2005.

The company experienced growth across all of its North American businesses, most notably in its US card segment. Capital One said that it expects managed loans will grow at a rate of between 7% and 9% during 2006, excluding the impact of the North Fork acquisition.

The US card segment’s net income in Q3 2006 was $461.6 million, compared with $481.8 million in Q3 2005, driven by strong credit and solid loan growth.

Results from Capital One’s auto finance segment for the third quarter also look promising, reflecting continued growth in originations and seasonal impacts in credit. Net income in Q3 2006 reached $35.3 million, compared with a net loss of $7.7 million in Q3 2005.

In the company’s global financial services segment, Q3 2006 net income hit $107.2 million, compared with $81.9 million in Q3 2005.

The banking segment also delivered a stable performance, with net income in Q3 2006 of $46.2 million, up $2.9 million, or 6.8%, from the second quarter of 2006.

Total deposits at the end of the quarter were $35.7 billion, relatively flat with $35.3 billion at the end of Q2 2006.

Capital One delivered solid profit and loan growth in the third quarter, reflecting strong performance across our business segments, a continuing favorable credit environment, and expected seasonal patterns, said Richard Fairbank, Capital One’s chairman and CEO. We continue to execute on our strategy of bringing together national scale lending and local banking businesses, and we look forward to continuing to drive our strategy with the acquisition of North Fork.

Capital One also said that it expects full year 2006 earnings per share (diluted) to be at the higher end of the $7.40 to $7.80 range.