Discover Financial Services Earnings: Here’s Why the Stock is Rising Now
Discover Financial Services (NYSE:DFS) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 0.22%.
Discover Financial Services Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 20% to $1.2 in the quarter versus EPS of $1.00 in the year-earlier quarter.
Revenue: Decreased 6.75% to $2.04 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Discover Financial Services reported adjusted EPS income of $1.2 per share. By that measure, the company beat the mean analyst estimate of $1.15. It beat the average revenue estimate of $2.01 billion.
Quoting Management: “Discover’s strong overall results were driven by profitable growth in Direct Banking and continued improvement in credit offset to a small degree by a loss in Payment Services as we supported Diners franchises in Europe,” said David Nelms, chairman and CEO of Discover.
Key Stats (on next page)…