Capital One's second quarter revenue beat estimates, boosted by a $1.1 billion decrease in credit provisions.

Capital One reported second quarter 2026 total net revenue of $15.85 billion and diluted EPS of $4.73. Revenue slightly beat consensus estimates of $15.77 billion, while reported EPS missed the $4.88 forecast. Adjusted for integration-related items, EPS was $5.81 per share.

Key Highlights

• The provision for credit losses decreased by $1.1 billion sequentially to $3.0 billion, a key driver of earnings which included a loan reserve release of $662 million.
• Period-end loans grew 2% from the prior quarter to $457.2 billion, led by a $4.9 billion increase in the Credit Card portfolio.
• Net interest margin (NIM) expanded by 14 basis points from the prior quarter to 8.01%.