Capital One’s Q2 earnings are a stunning rebound — net income soared to $3 billion (vs. a $4B loss last year), revenue climbed 4% to $15.9B, and their loan-loss reserves dropped dramatically. CEO Richard Fairbank credits strong growth, solid credit, and smooth integration of the Discover acquisition (plus Brex) for the turnaround. Credit card and auto loans rose, deposits dipped slightly, but their capital ratio remains rock-solid. Analysts were blown away — this beat expectations after a shaky Q1, signaling Capital One is firmly on the rise.
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