Synchrony Financial Q2 Highlights: EPS Beats Consensus, Revenue In-Line, 2023 Outlook Revised
Portfolio Pulse from Lekha Gupta
Synchrony Financial (SYF) reported Q2 sales of $4.12 billion, in line with consensus. Net interest income rose 8% Y/Y to $4.1 billion, while net earnings declined to $569 million from $804 million a year ago. The company beat the consensus with Q2 EPS of $1.32. SYF revised its 2023 outlook, expecting loan receivable growth of +10% and a net interest margin of 15.00% – 15.15%. The company's shares are trading higher by 1.30% at $35.97 premarket.
July 18, 2023 | 11:32 am
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Synchrony Financial reported Q2 earnings in line with consensus, with a higher EPS than expected. The company revised its 2023 outlook upwards, which could positively impact investor sentiment.
Synchrony Financial's Q2 earnings report was largely positive, with sales in line with consensus and EPS beating expectations. The company's upward revision of its 2023 outlook indicates confidence in future performance, which could positively impact investor sentiment and the stock's price.
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