Synchrony Financial (SYF) has reported a notable improvement in its third-quarter earnings compared to the previous year, surpassing Wall Street's expectations. The company's net income for the quarter reached $768 million, translating to $1.94 per share, up from $618 million or $1.48 per share in the third quarter of last year. Analysts surveyed by Thomson Reuters had anticipated earnings of approximately $1.79 per share, typically excluding any special items.
Revenue for the quarter also saw an increase, rising by 9.8% to $3.814 billion, compared to $3.475 billion in the prior year.
Here's a summarized view of Synchrony Financial's earnings based on Generally Accepted Accounting Principles (GAAP):
- Net Income (Q3): $768 million, up from $618 million in the previous year.
- Earnings Per Share (EPS, Q3): $1.94, an improvement from $1.48 last year.
- Revenue (Q3): $3.814 billion, compared to $3.475 billion in the prior year.
