Capital One Financial (NYSE: COF) reported Q4 EPS of $5.29, $2.43 better than the analyst estimate of $2.86. Revenue for the quarter came in at $7.34 billion versus the consensus estimate of $6.97 billion.

Fourth Quarter 2020 Income Statement Summary:

• Total net revenue decreased 1 percent to $7.3 billion.
• Total non-interest expense increased 13 percent to $4.0 billion:
  • 99 percent increase in marketing.
  • 6 percent increase in operating expenses.
• Pre-provision earnings decreased 13 percent to $3.3 billion(2).
• Provision for credit losses decreased 20 percent to $264 million:
  • Net charge-offs of $856 million.
  • $593 million loan reserve release.
• Net interest margin of 6.05 percent, an increase of 37 basis points.
• Efficiency ratio of 54.64 percent.
  • Efficiency ratio excluding adjusting items of 55.06 percent(1).
• Operating efficiency ratio of 46.97 percent.
  • Operating efficiency ratio excluding adjusting items of 47.39 percent(1).

"Our long-standing strategic choices put us in a strong position to respond to both the near-term challenges and the emerging opportunities as the pandemic plays out," said Richard D. Fairbank, Founder, Chairman and Chief Executive Officer. "Despite the pressures of the pandemic in the near-term, nothing has changed about where we think our businesses are headed, or the long-term strategic opportunities that are being created as sweeping digital change continues to transform banking."

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