Discover Deal Boosts COF's Q2 Earnings, Consumer Spending in Focus

Key Takeaways COF's adjusted EPS rose 35% to $5.48, beating estimates; revenues surged 25% to $12.49 billion. Discover deal drove a 72% jump in COF's credit card loans and lifted NII 25% to $10 billion. Purchase volume hit $201.5B, up 28% sequentially, fueled by resilient consumer spending and Discover loans.Capital One (COF) delivered better-than-expected second-quarter results, with the acquisition of Discover Financial Services (which closed on May 18) emerging as a key growth catalyst. Adjusted earnin ...