Seeking Alpha

More on Discover (DFS): Q3 net income fell 3.4% Y/Y. Card sales volume +4%. Total loans +9%. Net...

More on Discover (DFS): Q3 net income fell 3.4% Y/Y. Card sales volume +4%. Total loans +9%. Net interest margin +18 bps, thanks to lower funding costs (credit card yield fell 19 bps). Delinquencies and charge-offs hit historic lows of 1.81% and 2.43% respectively. About 10M shares repurchased for total of $350M; float fell 1.9% Y/Y. Shares +3.3% premarket. (PR)
Comments (1)
  • Zanalyst
    , contributor
    Comments (78) | Send Message
     
    "Delinquencies and charge-offs hit historic lows..."

     

    Believe it or not, there was a time when investors in financial sevices industry stocks actually repudiated companies that grossly understate delinquencies and charge-offs; but, now, investors have come to expect it. Congrats DFS, you kicked it down the road for another quarter...
    27 Sep 2012, 11:04 AM Reply Like
DJIA (DIA) S&P 500 (SPY)
ETF Tools
Find the right ETFs for your portfolio:
Seeking Alpha's new ETF Hub
ETF Investment Guide:
Table of Contents | One Page Summary
Read about different ETF Asset Classes:
ETF Selector

Next headline on your portfolio:

|