Capital One Financial
Q1 2023 Earnings Call
Apr 27, 2023, 5:00 p.m. ET
Contents:
- Prepared Remarks
- Questions and Answers
- Call Participants
Prepared Remarks:
Operator
Good day, and thank you for standing by. Welcome to first quarter 2023 Capital One financial earnings conference call. At this time, all participants are in a listen-only mode. After the speakers' presentation, there will be a question-and-answer session.
[Operator instructions] Please be advised that today's conference is being recorded. I would now like to hand the conference over to your speaker today, Jeff Norris, senior vice president of finance. Please go ahead.
Jeff Norris -- Senior Vice President, Finance
Thanks very much, Amy, and welcome everybody to Capital One's first quarter 2023 earnings conference call. As usual, we are webcasting live over the Internet. To access the call on the Internet, please log on to Capital One's website, capitalone.com, and follow the links from there. In addition to the press release and financials, we've included a presentation summarizing our first quarter 2023 results.
With me this evening are Mr. Richard Fairbank, Capital One's chairman and chief executive officer; and Mr. Andrew Young, Capital One's chief financial officer. Rich and Andrew will walk you through this presentation.
To access a copy of the presentation and the press release, please go to Capital One's website, click on investors and click on quarterly earnings release. Please note that this presentation may contain forward-looking statements. Information regarding Capital One's financial performance and any forward-looking statements contained in today's discussion and the materials speak only as of the particular date or dates indicated in the materials. Capital One does not undertake any obligation to update or revise any of this information, whether as a result of new information, future events or otherwise.
Numerous factors could cause our actual results to differ materially from those described in forward-looking statements. And for more information on these factors, please see the section titled Forward-Looking Information in the earnings release presentation and the Risk Factors section in our annual and quarterly reports that are accessible at the Capital One website and filed with the SEC. With that, I'll turn the call over to Andrew.
Andrew Young -- Chief Financial Officer
Thanks, Jeff, and good afternoon, everyone. I'll start on Slide 3 of tonight's presentation. In the first quarter, Capital One earned $960 million or $2.31 per diluted common share. Pre-provision earnings of $4 billion were flat to the fourth quarter and up 3% relative to the fourth quarter net of adjustments.