Discover Financial Services (DFS) Tops Q3 EPS by 5c, Beats on Revenues

Discover Financial Services (NYSE: DFS) reported Q3 EPS of $1.59, $0.05 better than the analyst estimate of $1.54. Revenue for the quarter came in at $2.53 billion versus the consensus estimate of $2.49 billion.

Third Quarter Highlights

• Total loans grew $6.9 billion (9%) from the prior year to $80.4 billion.
• Credit card loans grew $5.5 billion (9%) to $63.5 billion and Discover card sales volume increased 5% from the prior year.
• Total net charge-off rate excluding PCI loans increased 61 basis points from the prior year to 2.71% and the total 30+ day delinquency rate excluding PCI loans increased 26 basis points from the prior year to 2.05%.
• Consumer deposits grew $3.4 billion (10%) from the prior year to $38.7 billion.
• Payment Services transaction dollar volume was $51.6 billion, up 16% from the prior year.
• Income tax expense included one-time benefits of $28 million related to the resolution of certain tax matters.

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

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