Discover: 4Q Earnings Snapshot
RIVERWOODS, Ill. (AP) _ Discover Financial Services (DFS) on Thursday reported fourth-quarter net income of $681 million.
The Riverwoods, Illinois-based company said it had profit of $2.03 per share.
The results did not meet Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $2.09 per share.
The credit card issuer and lender posted revenue of $3.41 billion in the period. Its adjusted revenue was $2.81 billion, meeting Street forecasts.
For the year, the company reported profit of $2.74 billion, or $7.79 per share. Revenue was reported as $10.71 billion.
Discover shares have risen 12 percent since the beginning of the year, while the Standard & Poor’s 500 index has risen slightly more than 5 percent. In the final minutes of trading on Thursday, shares hit $66.25, a decline of 16 percent in the last 12 months.