CAPITAL ONE FINANCIAL CORP
For the period ended Mar 31, 2024. Filed May 2, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 2, 2024
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Business Segment Results
Business Segment Financial Performance
Table 8 summarizes our business segment results, which we report based on total net revenue (loss) and net income (loss) from continuing operations, for the first quarters of 2024 and 2023.
Table 8: Business Segment Results
| Three Months Ended March 31, | ||||||||
|---|---|---|---|---|---|---|---|---|
| 2024 · 2023 | ||||||||
| Total NetRevenue (Loss)(1) | Net Income(Loss)(2) | Total NetRevenue (Loss)(1) | Net Income(Loss)(2) | |||||
| (Dollars in millions) | Amount | % ofTotal | Amount | % ofTotal | Amount | % ofTotal | Amount | % ofTotal |
| Credit Card | $6,748 | 72% | $961 | 75% | $6,020 | 67% | $549 | 57% |
| Consumer Banking | 2,170 | 23 | 381 | 30 | 2,495 | 28 | 716 | 74 |
| Commercial Banking(3) | 880 | 9 | 280 | 22 | 860 | 10 | 54 | 6 |
| Other(3) | (396) | (4) | (342) | (27) | (472) | (5) | (359) | (37) |
| Total | $9,402 | 100% | $1,280 | 100% | $8,903 | 100% | $960 | 100% |
(1)Total net revenue (loss) consists of net interest income and non-interest income.
(2)Net income (loss) for our business segments and the Other category is based on income (loss) from continuing operations, net of tax.
(3)Some of our commercial investments generate tax-exempt income, tax credits or other tax benefits. Accordingly, we present our Commercial Banking revenue and yields on a taxable-equivalent basis, calculated using the federal statutory tax rate of 21% and state taxes where applicable, with offsetting reductions to the Other category.
| 21 | Capital One Financial Corporation (COF) |
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