Synchrony Financial (SYF) Tops Q1 EPS by 11c
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Synchrony Financial Reports First Quarter Net Earnings of $1.1 Billion or $1.56 Per Diluted Share
April 18, 2019 6:31 AM EDTSTAMFORD, Conn., April 18, 2019 /PRNewswire/ --Â Synchrony Financial (NYSE: SYF) today announced first quarter 2019 net earnings of $1.1 billion, or $1.56 per diluted share; this includes a $522 million pre-tax, $395 million after-tax, or $0.56 per diluted share benefit from reserves released related to the reclassification of the Walmart portfolio to loans held for sale during the quarter. Highlights included*:
Loan receivables grew 3% to $80.4 billion; excluding the Walmart portfolio from both periods, loan receivables grew 17% to $79.7 billion Net interest income increased 10% to $4.2 billion Purchase volume grew 10% to $32.5 billion; and average active accounts grew 8% to... More