Discover Financial Services (DFS) Tops Q3 EPS by 19c; Loans Up 9%

Discover Financial Services (NYSE: DFS) reported Q3 EPS of $1.21, $0.19 better than the analyst estimate of $1.02. Revenue for the quarter came in at $1.96 billion versus the consensus estimate of $1.9 billion.

Total loans grew $5.1 billion, or 9%, from the prior year to $59.2 billion.

Credit card loans grew $1.9 billion, or 4%, to $48.1 billion and Discover card sales volume increased 4% from the prior year.

Credit card loan delinquencies and net charge-offs reached historic lows with a delinquency rate for loans over 30 days past due of 1.81% and a net charge-off rate of 2.43%.

Payment Services pretax income was up 31% from the prior year to $49 million. Transaction volume for the segment was $50.3 billion in the quarter, an increase of 13% from the prior year.

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

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• onsemi downgraded by TD Cowen after Synaptics deal clouds growth story
• Apple’s big price hike seen as "an unprecedented push to protect margins"
• Crocs upgraded to Overweight at Piper Sandler on North America recovery signs