Capital One Financial (COF) Misses Q1 EPS by 17c

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April 25, 2017 4:05 PM EDT

Capital One Financial (NYSE: COF) reported Q1 EPS of $1.75, $0.17 worse than the analyst estimate of $1.92. Revenue for the quarter came in at $6.5 billion versus the consensus estimate of $6.66 billion.

“In the first quarter, we continued to deliver resilient growth,” said Richard D. Fairbank, Founder, Chairman and Chief Executive Officer. “As banking is being revolutionized by digital, we are investing to lead the transformation and drive growth opportunities. We are improving efficiency. And we are building an enduring customer franchise. We remain well positioned to deliver attractive growth and returns, as well as significant capital distribution, subject to regulatory approval.”

For earnings history and earnings-related data on Capital One Financial (COF) click here.

Total net revenue remained flat at $6.5 billion.
•
Total non-interest expense decreased 7 percent to $3.4 billion:
•
31 percent decrease in marketing.
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1 percent decrease in operating expenses.
•
Pre-provision earnings increased 7 percent to $3.1 billion(2).
•
Provision for credit losses increased 14 percent to $2.0 billion:
•
Net charge-offs of $1.5 billion.

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