Capital One Financial 2Q Revenue Climbs as Provision for Credit Losses Slides
By Kelly Cloonan
Capital One Financial logged higher revenue in its latest quarter as provision for credit losses declined.
The McLean, Va., bank on Tuesday posted a second-quarter profit of $3.02 billion, or $4.73 a share, compared with a loss of $4.28 billion, or $8.58 a share, a year earlier. The loss in the year-ago quarter was driven by costs tied to the close of the company's $35 billion acquisition of Discover Financial last May.
Adjusted earnings per share were $5.81, compared with estimates of $4.67 a share according to analysts polled by FactSet.
Revenue climbed 27% to $15.85 billion. Analysts forecast $15.77 billion.
Provision for credit losses fell 74% from a year ago, to $2.99 billion.
Chief Executive Richard Fairbank said Capital One's results continue to reflect strong credit performance, and reiterated that the Discover integration is going well.
The company said credit-card loans rose 2% from a year ago to $275.41 billion as of the end of the quarter, while consumer banking loans gained 11% to $90.47 billion.
Delinquency rates for both credit cards and consumer banking edged down from a year ago, to 3.4% and 4.3%, respectively.
Write to Kelly Cloonan at kelly.cloonan@wsj.com
(END) Dow Jones Newswires
July 21, 2026 16:47 ET (20:47 GMT)
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