Synchrony: 2Q Earnings Snapshot
STAMFORD, Conn. (AP) _ Synchrony Financial (SYF) on Friday reported second-quarter profit of $853 million.
On a per-share basis, the Stamford, Connecticut-based company said it had net income of $1.24. Earnings, adjusted for non-recurring gains, were 97 cents per share.
The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 96 cents per share.
The consumer credit company posted revenue of $4.74 billion in the period. Its adjusted revenue was $4.16 billion, missing Street forecasts. Four analysts surveyed by Zacks expected $4.19 billion.
Synchrony shares have risen 54% since the beginning of the year. The stock has climbed 8% in the last 12 months.