logo
Share SHARE
FONT-SIZE Plus   Neg

Discover Financial Services Q1 Profit Rises - Quick Facts

Discover Financial Services (DFS: Quote) 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.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Deutsche Bank (DB) on Sunday reported an about 50 percent decline in first-quarter profit, despite clocking double-digit revenue growth, as the German lender recorded hefty legal charges over allegations of rate-rigging. In a statement, the bank said its results were hurt by litigation expenses of... Casino operator Wynn Resorts said its shareholders ousted Elaine Wynn from the board, reflecting fears that her presence may lead to disharmony with the management. To commemorate the launch of Hubble telescope twenty-five year ago, NASA unveiled celestial fireworks as official image, marked by brilliant tapestry of young stars flaring to life.
comments powered by Disqus
RELATED NEWS
Trade DFS now with 
Follow RTT