Capital One Financial Corp. posted third-quarter adjusted net income attributable to common shareholders of $1.57 billion, or $3.32 per share, which was up from the $1.50 billion, or $3.12 per share, reported a year ago.
The S&P Global Market Intelligence consensus normalized EPS estimate for the quarter was $2.92.
That rise was reported alongside a year-over-year drop in the card issuer's GAAP net income available to common stockholders, which came in at $1.27 billion, or $2.69 per share, for the third quarter. A year earlier, the company reported GAAP net income available to common stockholders of $1.44 billion, or $2.99 per share.
Capital One said its non-adjusted EPS was hit in particular by a U.K. payment-protection insurance customer-refund reserve build, costs from a recent card launch with Walmart Inc. and a cybersecurity incident.
Loans held for investment as of Sept. 30 totaled $249.36 billion, marking a 4% increase from the year-ago quarter. Deposits for the quarter climbed 4% to $257.15 billion year over year.
The company's net interest margin was 6.73%, compared with the second quarter's 6.80% and the prior-year period's 7.01%.
Capital One recorded a provision for credit losses of $1.38 billion, up from the prior quarter's $1.34 billion and the third quarter of 2018's $1.27 billion. Net charge-offs for the period were $1.46 billion, versus $1.51 billion in the second quarter and $1.43 billion in the same three-month period of 2018.
The company's efficiency ratio for the quarter was 55.64%. In comparison, Capital One posted an efficiency ratio of 53.05% in the second quarter and 54.19% in the year-ago quarter.