Discover Financial Services (DFS) reported that its first-quarter net income allocated to common stockholders increased to $624 million or $1.18 per share, from $459 million or $0.84 per share in the same quarter last year. Analysts polled by Thomson Reuters expected the company to report earnings of $0.94 per share for the quarter. Analysts' estimates typically exclude special items.
Revenue, net of interest expense, for the quarter rose to $1.843 billion from $1.733 billion in the prior year quarter. Seventeen analysts had consensus revenue estimate of $1.82 billion for the quarter.
"Continued improvements in credit performance, solid organic growth in each of our lending products and strong volume growth across our networks were key drivers of this quarter's earnings," said David Nelms, chairman and chief executive officer.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.