Capital One Financial reported a significant decline in its second-quarter earnings for 2024, with net income falling 61% to $597 million, or $1.38 per diluted share. The company's revenue reached $9.51 billion, slightly below analyst expectations of $9.56 billion. Capital One's earnings per share (EPS) of $3.14 also missed estimates by 7.4%. The decline in profit was attributed to higher provisions for credit losses, which were influenced by the termination of its Walmart credit card program and an increase in domestic card growth. Additionally, the company set aside $1.3 billion to cover anticipated loan losses, leading to a 4% decrease in total non-interest expenses to $4.9 billion. The stock price reacted negatively, dropping approximately 1.7% in after-hours trading following the earnings announcement.