Discover Financial Services (NYSE: DFS) reported Q2 EPS of $5.55, $1.80 better than the analyst estimate of $3.75. Revenue for the quarter came in at $3.58 billion versus the consensus estimate of $2.9 billion.

“In the second quarter, our marketing investments, strong value proposition, and accelerating sales trends produced sequential card receivables growth, while credit performance continued to improve. Additionally, we generated significant capital which supported our decision to substantially increase our dividend and share repurchase authorization,” said Roger Hochschild, CEO and President of Discover. “Looking ahead, these results improve our confidence in our loan growth expectation for this year, while we see opportunity to increase our marketing and other investments to accelerate growth in future periods.”

Board of Directors Approves Repurchase of up to $2.4 Billion of Common Stock and Increases the Quarterly Common Stock Dividend 14% From $0.44 to $0.50 Per Share

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