Discover Financial Services' Profit Climbs Along With Revenue

Date : 10/22/2019 @ 9:05PM
Source : Dow Jones News
Stock : Discover Financial Services (DFS)
Quote : 84.15  0.0 (0.00%) @ 12:00AM

Discover Financial Services' Profit Climbs Along With Revenue

Discover Financial Servi... (NYSE:DFS)
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   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.

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