Capital One reported third-quarter net income of $3.5 billion, or $5.61 per diluted common share, while acquisition-related expenses continued to separate reported earnings from the company’s adjusted comparison. Adjusted diluted EPS was $6.69.
The October 20 official earnings release shows profit rising from $3.0 billion in the second quarter and $3.2 billion in the third quarter of 2025. Its main operating-summary percentages, however, compare the latest quarter with Q2—not with a year earlier.
The reported result and its adjustments
| Measure | Disclosed result | Primary source |
|---|---|---|
| Q3 net income | $3.5 billion; prior-year quarter $3.2 billion | Official results |
| Q3 diluted common EPS | $5.61 reported; $6.69 adjusted | Official results |
| Acquisition amortization expense | $483 million before tax; $0.60 after-tax EPS effect | Official results |
| Discover / Brex integration expenses | $338 million / $47 million before tax | Official results |
| Q3 total net revenue | $16.3 billion; +3% versus Q2 | Official results |
| Provision / net charge-offs | $2.9 billion / $3.1 billion; $225 million reserve release | Official results |
The three disclosed after-tax EPS effects are $0.60 for acquisition amortization, $0.42 for Discover integration and $0.06 for Brex integration. Adding those to $5.61 produces $6.69. This bridge explains the adjusted figure; it does not erase the costs from the reported accounts.
Credit costs are a different question from integration
A credit-loss provision is the expense recorded for expected loan losses. A net charge-off is a loan loss actually written off after recoveries. A reserve release reduces the allowance previously set aside. Those concepts differ, so the $2.9 billion provision and $3.1 billion net charge-offs should not be described as the same expense or as total revenue.
Net interest margin was 8.41%, 40 basis points above the second quarter. One basis point is 0.01 percentage point; that is a 0.40 percentage-point sequential increase, not a 40% rise. Margin measures interest earnings relative to the relevant earning-asset base rather than the proportion of all revenue kept as net profit.
For another bank report separating standard and adjusted EPS, see CapKet’s Fifth Third results. Comparisons between institutions still require their own accounting definitions and acquisition context.
The separate issuer financial supplement confirms the EPS reconciliation and quarterly comparison bases. It describes its financial information as preliminary and based on data available for the earnings presentation. This is another company record, not independent corroboration. Future integration benefits remain expectations; the expenses and credit measures above are reported quarterly outcomes.
Official records observed: Capital One official quarterly results at ; Capital One issuer results companion record at . Results released October 20, 2026 for the quarter ended September 30, 2026. Forecasts are management estimates, not guaranteed results.
Recorded source observation: . This is a source-check timestamp, not a market quote or a new article update.