Discover Financial (DFS) Q3 Earnings Surpass, Improve Y/Y
Zacks Investment Research | Oct 22, 2019 10:11PM ET
Discover Financial Services’ (NYSE:DFS) third-quarter 2019 adjusted earnings of $2.36 beat the Zacks Consensus Estimate by 3.1%. Moreover, the bottom line improved 15.1% year over year on higher revenues and solid loan growth.
Its Direct Banking and Payments Services segments also witnessed growth in the third quarter.
Operational Update
In the reported quarter, the company’s revenues — net of interest expenses — increased 6.5% year over year to $2.9 billion, driven by higher net interest income and loan fee income. Moreover, the top line surpassed the Zacks Consensus Estimate by 0.7%.
Total loans grew 6% year over year to $92.5 billion.
Interest expenses of $638 million increased 14.3% year over year.
Total other expenses rose 9.1% to $1.11 billion due to higher employee compensation, marketing and business development and professional fees.
Discover Financial Services Price, Consensus and EPS Surprise
Zacks Investment Research
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.