Companies /Financial Services

Capital One Financial Corp

NYSE: COF Credit Services
$214.51
▼ $1.16 (−0.54%) today
Markets closed · 8:50pm ET

Q1 2026 Earnings

Reported Apr 21, 2026, 4:05pm ET · SEC source
$4.42
Miss −3.33%
EPS · est. $4.57
$15.2B
Miss −0.87%
Revenue · est. $15.4B
−13.3%
Trailing market
COF vs S&P since report
3 quarters
Consecutive EPS misses

Market Reaction

% change · around the report
0+3%+6%Apr 21Apr 22report 4:05pm ETearnings+0.6%+3.9%
0+3%+6%Apr 21Apr 22earnings+0.6%+3.9%
COF +3.9%S&P 500 +0.6%
0+3%+6%Apr 21Apr 22report 4:05pm ETearnings+1.4%+3.9%
0+3%+6%Apr 21Apr 22earnings+1.4%+3.9%
COF +3.9%NASDAQ +1.4%
−3%0+3%+6%Apr 20Apr 29report 4:05pm ETearnings+0.3%−2.5%
−3%0+3%+6%Apr 20Apr 29earnings+0.3%−2.5%
COF −2.5%S&P 500 +0.3%
−3%0+3%+6%Apr 20Apr 29report 4:05pm ETearnings+1.7%−2.5%
−3%0+3%+6%Apr 20Apr 29earnings+1.7%−2.5%
COF −2.5%NASDAQ +1.7%
−1.56%
Day of report
−1.52%
Next session
−5.14%
One week
−7.82%
30 days

S&P 500 over the same 30 days: +5.49%.

Did COF Beat Earnings? Q1 2026 Results

Capital One Financial delivered a steady first quarter in 2026, reporting adjusted earnings of $4.42 per diluted share on total net revenue of $15.23 billion, as the Discover integration continued to reshape the company's financial profile. The most material driver of the quarter's results was the ongoing absorption of Discover-related costs, with $477 million in pre-tax amortization and $415 million in pre-tax integration expenses weighing on GAAP earnings, which came in at $3.34 per diluted share. Revenue slipped 2% sequentially, pressured by a 3% decline in net interest income to $12.14 billion as net interest margin compressed to 7.87%, though total net revenue surged 52% compared to the year-ago period before the acquisition closed. Expense discipline provided a meaningful offset, with total non-interest expense falling 9% quarter-over-quarter to $8.46 billion and the adjusted efficiency ratio improving to 49.71%. Credit quality showed mixed signals, as the 30-plus day delinquency rate improved to 3.04%, while the domestic card net charge-off rate edged higher to 5.10%.

Key Takeaways
  • Discover acquisition driving significant year-over-year revenue and asset growth
  • Net interest margin of 7.87%, up 94 bps year-over-year but down 39 bps sequentially
  • Total non-interest expense decreased 9% QoQ with 23% decline in marketing spend
  • Pre-provision earnings increased 8% sequentially to $6.8 billion
  • Net charge-off rate flat at 3.45% QoQ; 30+ day delinquency rate improved to 3.04% from 3.41%
  • Auto loan originations of $11.1 billion, up 9% sequentially and 21% year-over-year
  • Global Payment Network volume of $174.3 billion
  • Total deposits increased 3% QoQ to $489.1 billion
  • Interest-bearing deposits rate paid decreased 16 basis points to 3.00%

“Our results in the first quarter reflect solid top line growth and strong credit performance.”

Capital One CEO, on the earnings call

COF YoY Financials

Revenue$15.2B
Net Income$2.2B
Operating Income$2.7B

COF Revenue by Segment

Domestic Card$10.7B+58.0%
Credit Card$11.4B+59.0%
Consumer Banking$2.9B+37.0%
Commercial Banking$909.0M+3.0%

Figures from SEC filings and company reports. Not investment advice.