Discover Financial Services (NYSE: DFS) reported Q2 EPS of $1.91, $0.03 better than the analyst estimate of $1.88.

• Total loans grew $6.8 billion, or 9%, from the prior year to $84.8 billion.
• Credit card loans grew $6.0 billion, or 10%, to $67.8 billion, and Discover card sales volume increased 9% from the prior year, to $35.1 billion.
• Total net charge-off rate increased 40 basis points from the prior year to 3.11%. Excluding purchased credit-impaired ("PCI") loans, total net charge-off rate increased 39 basis points from the prior year to 3.18% and the total 30+ day delinquency rate increased 15 basis points from the prior year to 2.08%.
• Consumer deposits grew $4.5 billion, or 12%, from the prior year to $42.3 billion.
• Payment Services transaction dollar volume was $57.3 billion, up 14% from the prior year.

“Our investments in the Discover brand and in growth initiatives across our product set continued to drive outstanding returns this quarter. The direct impact of these initiatives was evident in our continued strong loan and revenue growth," said David Nelms, chairman and CEO of Discover. “Our new capital plan includes a 14% increase in our dividend which, combined with share repurchases, is expected to contribute to a robust level of capital return over the next year."

For earnings history and earnings-related data on Discover Financial Services (DFS) click here.