Discover Financial Services (DFS) reported that its first quarter net income was $120.39 million, up from $81.21 million in the first quarter of 2008. On a per share basis, net income for the quarter was $0.25, compared to $0.17 in the year ago quarter.
Net income for the first quarter of 2009 includes approximately $297 million (after-tax) related to the Visa/MasterCard antitrust litigation settlement.
Earnings from Continuing Operations for the quarter was $120.39 million, compared to $238.83 million in the same quarter of last year. Earnings from Continuing Operations for the quarter was $0.25 per share, compared to $0.50 per share in the year ago quarter.
Analysts polled by Thomson Reuters expected the company to report a net loss of $0.16 per share. Analysts' estimates typically exclude special items.
Revenue Net of Interest Expense for the quarter was $1.69 billion, compared to $1.30 billion in the year ago quarter.
The company also announced it reduced its quarterly dividend to $0.02 per share. The company's board declared a cash dividend of $0.02 per share, payable on April 22, 2009, to stockholders of record at the close of business on April 1, 2009.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.