Discover Financial Services (DFS) has reported an impressive increase in its third-quarter earnings, outperforming market expectations.
The financial results showed a net income of $928 million, translating to $3.69 per share, marking a noticeable improvement from the $647 million, or $2.59 per share, recorded in the same quarter of the previous year.
Market analysts, as surveyed by Thomson Reuters, had predicted earnings of $3.42 per share, excluding any special items typically adjusted from such estimates.
The company also experienced a robust revenue growth, with quarterly revenue rising by 10.1% to reach $4.453 billion, compared to the previous year's $4.044 billion.
A summary of Discover Financial Services' third-quarter earnings (GAAP):
- Earnings: $928 million versus $647 million last year.
- Earnings per Share (EPS): $3.69 compared to $2.59 last year.
- Revenue: $4.453 billion versus $4.044 billion last year.
