-=Capital One (COF) reported earnings on Tue 22 Jan 2019 (a/h)

Capital One misses by $0.51, reports revs in-line

• Reports Q4 (Dec) earnings of $1.87 per share, $0.51 worse than the S&P Capital IQ Consensus of $2.38; revenues rose 0.2% year/year to $7.01 bln vs the $7.07 bln S&P Capital IQ Consensus.
• Net interest income increased was flat y/y at $5.82 bln. Net interest margin was 6.96%, decreasing 5 basis points.
• Average loans held for investment in the quarter increased $4.6 billion, or 2%, to $241.4 billion. Commercial Banking average loans increased $1.6 billion, or 2%, to $69.7 billion. Consumer Banking average loans increased $122 million, or less than 1%, to $59.3 billion.
• Provision for credit losses increased 29% to $1.6 billion.

On a related note, the stock was downgraded to 'Perform' from 'Outperform' at Oppenheimer.