The company reported an adjusted loss of $3.02 a share vs. a profit of $2.90 a share a year earlier. The bank said revenue fell 2% to $7.2 billion.
Analysts surveyed by FactSet had expected the company to report net income of $1.88 a share on revenue of $7.3 billion.
Shares of Capital One fell 30 cents or 0.6%, to $52.31 in after-hours trading.
“In the first quarter, Capital One rapidly mobilized to respond to COVID-19 and the disruption it is causing, with a focus on our associates, our customers, and our communities,” said Richard D. Fairbank, chairman and CEO of Capital One in a statement. “We are well positioned to navigate and manage through these uncertain times, and to emerge with strength on the other side.”
Elsewhere, financial stocks ended lower Thursday.
The S&P 500 financials sector index fell 1.54, or 0.43%, to 355.96.
U.S. stocks ended little changed Thursday as oil prices rebounded, but new unemployment filings came in at 4.4 million as the coronavirus shut-downs continued to savage the economy.