Synchrony tops 4Q profit forecasts
STAMFORD, Conn. (AP) — STAMFORD, Conn. (AP) — Synchrony Financial (SYF) on Friday reported fourth-quarter profit of $547 million.
On a per-share basis, the Stamford, Connecticut-based company said it had net income of 65 cents.
The results beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 63 cents per share.
The company posted revenue of $3.21 billion in the period, falling short of Street forecasts. Three analysts surveyed by Zacks expected $3.22 billion.
For the year, the company reported profit of $2.21 billion, or $2.65 per share. Revenue was reported as $12.09 billion.
Synchrony shares have dropped nearly 9 percent since the beginning of the year. The stock has dropped 5 percent in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SYF at http://www.zacks.com/ap/SYF
Keywords: Synchrony, Earnings Report
This story has been corrected to remove the reference to General Electric, which no longer owns a controlling stake in Synchrony.