The Details: Capital One Financial reported quarterly earnings of $5.48 per share, which beat the analyst consensus estimate of $3.59, according to Benzinga Pro. Quarterly revenue came in at $12.49 billion, which missed the analyst consensus estimate of $12.55 billion.

• Total net revenue increased 25% from the previous quarter to $12.5 billion
• Total non-interest expense increased 18% to $7 billion:
  ◦ 12% increase in marketing
  ◦ 20% increase in operating expenses
• Pre-provision earnings increased 34% to $5.5 billion
• Provision for credit losses increased $9.1 billion to $11.4 billion:
  ◦ Net charge-offs of $3.1 billion
  ◦ $7.9 billion loan reserve build
• Net interest margin of 7.62%, an increase of 69 basis points:
  ◦ Adjusted net interest margin of 7.68%
• Efficiency ratio of 55.96%
• Operating efficiency ratio of 45.2%