Discover Financial Services' Profit Climbs Along With Revenue
October 22 2019 - 5:05PM
Dow Jones News
By Allison Prang
Discover Financial Services' (DFS) earnings increased as revenue
rose.
Profit was $770 million, up 6.9% from the comparable quarter a
year earlier. Earnings were $2.36 a share, up from $2.05 a
share.
Revenue, net of interest expense, was $2.9 billion, up 6.5%.
Analysts were expecting $2.88 billion.
Net interest income was $2.4 billion, up 8.1%. Total other
income--which includes loan fee income and net discount and
interchange revenue--fell to $498 million, down 0.6%.
Discover's provision was $799 million, up 7.7%. That outpaced
average loan receivables growth of 6.4%.
Write to Allison Prang at allison.prang@wsj.com
(END) Dow Jones Newswires
October 22, 2019 16:50 ET (20:50 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
Discover Financial Servi... (NYSE:DFS)
Historical Stock Chart
From Mar 2024 to Apr 2024
Discover Financial Servi... (NYSE:DFS)
Historical Stock Chart
From Apr 2023 to Apr 2024