Evercore ISI Remains Bullish on Discover Financial Services (DFS) Following 2Q EPS Miss
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Discover Financial Services Reports Second Quarter Net Income of $616 Million or $1.47 Per Diluted Share
July 19, 2016 4:18 PM EDTRIVERWOODS, Ill.--(BUSINESS WIRE)-- Discover Financial Services (NYSE: DFS) today reported net income of $616 million or $1.47 per diluted share for the second quarter of 2016, as compared to $599 million or $1.33 per diluted share for the second quarter of 2015. Net income included a non-recurring tax benefit of $44 million which contributed $0.11 to diluted earnings per share.
Second Quarter Highlights
Total loans grew $2.9 billion, or 4%, from the prior year to $71.9 billion. Credit card loans grew $2.3 billion, or 4%, to $57.2 billion and Discover card sales volume increased 2% from the prior... More