Capital One Q1 2026 net income $2.2 billion, or $3.34 per share; revenue down 2%
Capital One reported first-quarter 2026 net income of $2.2 billion, or $3.34 per diluted share, up from $3.26 in the fourth quarter of 2025 but down from $3.45 in the first quarter of 2025. Total net revenue fell 2% from the prior quarter to $15.2 billion, while non-interest expense dropped 9% to $8.5 billion, and the company said Discover integration is continuing. Shareholders get mixed signals: profit rose sequentially, but revenue declined and per-share earnings were lower than a year earlier.
Key points
- Net income $2.2 billion, or $3.34 per diluted share, versus $3.26 in Q4 2025 and $3.45 in Q1 2025
- Net of adjusting items, EPS was $4.42; adjusting items included $477 million of Discover amortization and $415 million of Discover integration expenses, both pre-tax
- Total net revenue down 2% to $15.2 billion; provision for credit losses $4.1 billion; net charge-offs $3.8 billion
- Net interest margin 7.87%, down 39 basis points; period-end deposits $489.1 billion
The filing
Written by AI on Nov 8, 2026, 2:16 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on April 21, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.