Capital One’s deposits rise, but quarterly results are a miss


Capital One Financial Corp. stock dropped more than 4% in the extended session Thursday after the financial company missed Wall Street expectations for its first quarter despite a rise in retail deposits. Capital One earned $960 million, or $2.31 a share, in the first quarter, compared with $2.4 billion, or $5.62 a share, in the first quarter of 2022. Revenue dropped 2% to $8.9 billion, the company said. Analysts polled by FactSet expected it to report earnings of $3.84 a share on revenue of $9.1 billion. Capital One “built additional balance sheet strength as we grew retail deposits, and maintained or increased strong…

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