Discover Reports Better-Than-Expected Q2 Results: Here's The Details
Portfolio Pulse from Erica Kollmann
Discover Financial Services (NYSE:DFS) reported better-than-expected Q2 results with GAAP earnings of $6.06 per share, significantly beating the estimate of $3.07 per share. The company saw a notable increase in net interest income and card yield, along with growth in total loans. Discover's shares rose 5.01% in after-hours trading.
July 17, 2024 | 8:58 pm
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Discover Financial Services reported Q2 GAAP earnings of $6.06 per share, beating the estimate of $3.07 per share. Net interest income increased by 11% year-over-year, and total loans grew by 8%. Shares rose 5.01% in after-hours trading.
The significant earnings beat and positive financial metrics such as increased net interest income and loan growth are likely to boost investor confidence, leading to a short-term increase in the stock price. The 5.01% rise in after-hours trading further supports this positive outlook.
CONFIDENCE 100
IMPORTANCE 90
RELEVANCE 100