Discover Financial Services Q1 Provision For Credit Losses $1.5B, Up $395M YoY
Portfolio Pulse from Benzinga Newsdesk
Discover Financial Services reported a Q1 provision for credit losses of $1.5B, marking an increase of $395M from the previous year.
April 17, 2024 | 8:20 pm
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Discover Financial Services' Q1 provision for credit losses increased by $395M year-over-year to $1.5B.
The significant increase in the provision for credit losses suggests a potential rise in expected credit losses, which could negatively impact Discover Financial Services' profitability and financial health in the short term. This news is directly related to DFS and is critical for investors as it may influence the company's future earnings and stock price.
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