Capital One Financial (COF) Tops Q1 EPS by $2.86; $1.6B Loan Reserve Release

Capital One Financial (NYSE: COF) reported Q1 EPS of $7.03, $2.86 better than the analyst estimate of $4.17. Revenue for the quarter came in at $7.1 billion versus the consensus estimate of $6.98 billion.

Provision for credit losses decreased $1.1 billion to $(823) million:

• Net charge-offs of $740 million.
• $1.6 billion loan reserve release.

"Strikingly strong credit drove another quarter of record earnings per share, and our investments to transform our technology and how we work are paying off," said Richard D. Fairbank, Founder, Chairman and Chief Executive Officer. ""Our modern technology is powering our response to the pandemic, and putting us in a strong position for opportunities that emerge as sweeping digital change transforms banking."

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

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