Synchrony Financial Reports Higher Q2 Net Interest Income And Shareholder Returns, Drives Positive Outlook
Portfolio Pulse from Akanksha Bakshi
Synchrony Financial (NYSE:SYF) reported strong Q2 fiscal 2024 results with net interest income of $4.405 billion, beating expectations. Despite a decline in net interest margin, net revenue rose 12.7% and net earnings increased 13% YoY. The company returned $400 million to shareholders and provided a positive FY24 outlook.
July 17, 2024 | 1:08 pm
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Synchrony Financial reported strong Q2 results, beating net interest income expectations and showing a 13% increase in net earnings. The company also returned $400 million to shareholders and provided a positive FY24 outlook.
The strong Q2 results, including beating net interest income expectations and a significant increase in net earnings, are likely to positively impact SYF's stock price. The company's positive FY24 outlook further supports this positive sentiment.
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