Discover beats Street 4Q forecasts
RIVERWOODS, Ill. (AP) _ Discover Financial Services (DFS) on Wednesday reported fourth-quarter net income of $387 million.
On a per-share basis, the Riverwoods, Illinois-based company said it had net income of 99 cents. Earnings, adjusted for pretax expenses and non-recurring costs, were $1.55 per share.
The results topped Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.53 per share.
The credit card issuer and lender posted revenue of $3.05 billion in the period. Its adjusted revenue was $2.61 billion, also topping Street forecasts. Five analysts surveyed by Zacks expected $1.85 billion.