Discover Reports Better-Than-Expected Q3 Results, Higher Delinquency Rates YOY: Details
Portfolio Pulse from Erica Kollmann
Discover Financial Services (NYSE:DFS) reported better-than-expected Q3 earnings and revenue, with earnings per share at $3.69 and revenue at $4.453 billion. Despite higher delinquency rates, the company saw increased net interest income and margin, modest loan growth, and progress in risk management.
October 16, 2024 | 8:49 pm
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Discover Financial Services reported strong Q3 results, beating earnings and revenue estimates. However, delinquency rates increased year-over-year. The company saw growth in net interest income and margin, and modest loan growth.
Discover's Q3 earnings and revenue exceeded expectations, which is positive for the stock. However, the increase in delinquency rates could be a concern. The improvement in net interest income and margin, along with loan growth, suggests a positive outlook.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100