Capital One Financial (COF 3.24%), a major player in the credit card and banking industry, reported mixed first-quarter earnings on Tuesday, April 22. Adjusted EPS of $4.06 came in well ahead of analysts' consensus expectations of $3.64.
Capital One recorded a higher first-quarter profit and is prepared to complete its acquisition of Discover on May 18.
Capital One's plans to acquire Discover have been approved at the federal level.
Capital One Financial's (COF 0.95%) planned acquisition of Discover Financial Services (DFS 3.22%) has received regulatory approval, and investors are breathing a sigh of relief.
Shares were climbing after regulators approved a merger between two of the biggest U.S. credit-card issuers.
The pending merger between Capital One and Discover Financial services received approval from several regulators Friday, bringing the $35 billion tie-up closer to completion.
Capital One and Discover Financial Services said Friday (April 18) that they have received all required regulatory approvals to complete Capital One's proposed acquisition of Discover.
Federal regulators approved Capital One's (COF) bid to become America's largest credit card lender, signing off on the company's purchase of Discover (DFS) on Friday.
The deal joins two of the largest credit card companies that aren't banks first, like JPMorgan and Citi, with the notable exception of American Express.
Capital One Financial's application to acquire Discover Financial Services has officially been approved by the Federal Reserve Board and the Office of the Comptroller of the Currency. Capital One announced plans to acquire Discover in an all-stock transaction valued at $35.3 billion in February 2024.
The deal expands Capital One's reach and gives it a card network.
Looking beyond Wall Street's top -and-bottom-line estimate forecasts for Capital One (COF), delve into some of its key metrics to gain a deeper insight into the company's potential performance for the quarter ended March 2025.