Capital One (COF) Falls on Q4 Earnings Miss as Provisions Rise

Shares of Capital One (COF) lost 1.3% in after-hours trading in response to lower-than-expected fourth-quarter 2023 results. Quarterly adjusted earnings of $2.24 per share lagged the Zacks Consensus Estimate of $2.50. Also, the bottom line fell 21% from the year-ago quarter.Results were adversely impacted by higher provisions, increasing deposit costs and a rise in non-interest expenses. However, an increase in net interest income (NII) and higher loan balance offered support. Further, higher fee income on ...