Capital One’s second-quarter earnings surpassed estimates, driven by strong non-interest income growth and Discover integration benefits.
Capital One Financial reported second-quarter revenue of $15.85 billion, up 27% year over year and above the $15.77 billion consensus estimate. Adjusted earnings per share rose 6% to $5.81, topping the $4.75 estimate.
Non-interest income surged 39% year over year, supported by a 15% sequential increase in net discount and interchange fees, totaling $2.26 billion. Net interest income grew 24% to $12.37 billion but fell slightly short of Street expectations.
Shares remained flat in after-hours trading at $206, reflecting investor caution despite the earnings beat.