Discover Stock Is Diving After Hours: What's Going On?
Portfolio Pulse from Adam Eckert
Discover Financial Services (NYSE:DFS) reported Q2 results with revenue of $3.878 billion, beating estimates of $3.8 billion, but EPS of $3.54, missing estimates of $3.67. The company saw a 19% YoY loan growth, reaching $117.9 billion. However, digital banking revenue fell by $322 million. Payment services volume and income increased by 8% YoY and from $20 million to $70 million respectively. The company repurchased 6.8 million shares for $700 million and declared a quarterly cash dividend of 70 cents per share. DFS shares were down 11.5% in after-hours trading.

July 19, 2023 | 9:01 pm
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Discover Financial Services reported mixed Q2 results, beating revenue estimates but missing on EPS. The company's shares fell 11.5% in after-hours trading.
Discover Financial Services reported Q2 results that beat revenue estimates but missed on EPS. This mixed performance, along with the decline in digital banking revenue, likely contributed to the drop in the company's share price in after-hours trading.
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