Seeking Alpha

More on Discover (DFS) Q2 earnings: Credit card loans of $49.8B up 5% Y/Y. Credit card...

More on Discover (DFS) Q2 earnings: Credit card loans of $49.8B up 5% Y/Y. Credit card delinquencies a record-low 1.58% in last 30 days down 27 bps from a year ago. Loan loss provision of $225M off $37M from a year ago. Net interest margin of 9.44% up 16 bps from a year ago thanks to decreased funding costs as loan yields fell. Net interest income of $116M up 9% Y/Y. Expenses up 2% Y/Y. Payment services reported a $21M pretax loss vs. a $50M gain a year ago, thanks to a $55M charge to support Diners Club International Franchises. 7M shares repurchased for $340M. Shares +0.6% AH. CC at 5 ET. (PR)
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  • Micah
    , contributor
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    Let the value creation and the return to shareholders begin...
    23 Jul 2013, 04:29 PM Reply Like
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