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FINANCIALS: Capital One Misses On Higher Charge-Offs

FINANCIALS

Capital One (COF : Baa1 rev. down/BBB/A-) headlines look disappointing with a rise in charge-offs and a small miss on revenues. Follows the “mixed” results from US major card-issuing banks and gives a weak lateral for Barclays, the European bank with the biggest US card exposure.

  • “*CAPITAL ONE 2Q ADJ EPS $3.14, EST. $3.13
  • *CAPITAL ONE 2Q NET REV. $9.51B, EST. $9.56B
  • *CAPITAL ONE 2Q NET INTEREST MARGIN 6.7%, EST. 6.74%” - BBG
  • “Reuters: Capital One profit declines 61% as net charge-offs rise” - Reuters

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