Capital One reported better-than-expected third-quarter results with revenue of $16.34 billion, up 6.4% year over year, and adjusted EPS of $6.69, up 12%. Net interest income beat consensus by $134 million and provisions for credit losses came in at $2.9 billion, well below the $3.6 billion forecast. The domestic card charge-off rate was 3.98%, down from 4.71% in the second quarter. Discover integration is progressing as planned with $1.8 billion in annualized synergies realized year-to-date toward the $2.7 billion target by 2027. Shares rose 4% in after-hours trading following the results.
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