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Capital One improves bottom line, sustains top line

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Capital One improves bottom line, sustains top line

Capital One FinancialCorp. on July 21 reported second-quarter net income available to commonstockholders of $871 million, or $1.69 per diluted common share, compared to netincome available to common stockholders of $830 million, or $1.50 per share, inthe year-ago quarter.

The S&P Capital IQ consensus mean estimate for normalizedEPS for the latest period was $1.89.

Total net revenue was $6.25 billion, compared to $6.22 billionin the linked quarterand $5.67 billion in the year-earlier quarter.

Net interest margin for the period was 6.73%, compared to 6.75%for the previous period and 6.56% for the year-ago period.

Net charge-offs in the period were $1.16 billion, compared to$1.18 billion in the previous period and $846 million in the same quarter a yearago. The quarter's allowance for loan and lease losses was $5.88 billion, comparedto a $5.42 billion in the preceding period and $4.68 billion in the year-ago period.

Provision for credit losses was $1.59 billion, compared to $1.53billion in the first quarter of 2016 and $1.12 billion in the second quarter of2015.