Wed, Jan. 21, 4:24 PM
- Q4 net income of $404M or $0.87 per share vs. $553M of $1.19 (as adjusted) one year ago.
- Total loans of $70B up 6.4% Y/Y. Credit card loans of $56.1B up 5.6%. Net charge-off rate of 2.26% up 17 basis points. Payment services transaction dollar volume of $51B up 2%.
- Direct Banking segment pretax income of $646M off 29% Y/Y thanks mostly to a one-time $178M charge related to the elimination of the credit cards rewards forfeiture reserve. Net interest income up 7% Y/Y, with NIM of 9.77% down 5 basis points.
- Payment Services segment pretax income of $2M vs. $24M a year ago, mostly due to a $21M fair value adjustment from classifying Diners Club Italy as held-for-sale. Dollar volume of $51 up 2% Y/Y.
- 6M shares repurchased during quarter for $400M, cutting float by 1%.
- Conference call at 5 ET
- Previously: Discover Financial Services misses by $0.11, misses on revenue (Jan. 21)
- DFS -3.8% after hours
Wed, Jan. 21, 4:06 PM| Comment!
Tue, Jan. 20, 5:35 PM
Oct. 21, 2014, 4:40 PM
- Q3 net income of $644M or $1.37 per share vs. $593M and $1.20 a year ago.
- Direct Banking: Pretax income of $891M up 7% Y/Y. Total loans of $67.3B up 7.4%. Credit card loans of $53.7B up 6.6%. Personal loans up 20.9%. Student loans up 4.5%. Net interest income up 9%; net interest margin of 9.79% up 14 bps. Delinquency rate for CC over 30 days past due of 1.71% up four basis points. Expenses up 6%.
- Payment Services: Pretax income of $28M flat Y/Y.
- Share repurchases: About 10M shares for $622M. Float down 2% Q/Q/
- Conference call at 5 ET
- Previously: Discover Financial Services beats by $0.03, revenue in-line
- DFS +0.2% AH
Oct. 21, 2014, 4:29 PM| Comment!
Oct. 20, 2014, 5:35 PM
Jul. 22, 2014, 4:16 PM| 5 Comments
Jul. 21, 2014, 5:35 PM
Apr. 22, 2014, 4:32 PM
- Direct banking pretax income of $994M off 4% Y/Y. Total loans of $63.8B up 6%. Credit card loans of $50.9B up 5%.
- Net interest income up 11% Y/Y, with NIM of 9.88% up 49 basis points.
- Delinquency rate for cards over 30 days past due of 1.72% is down 5 bps from a year ago. Provision for loan losses of $270M up $111M from a year ago amid a reserve release of just $59M this year vs. $154M last year.
- About 5.5M shares repurchased during Q for $305M, roughly inline with Q4's buyback.
- CC at 5 ET
- Press release, Q1 results
- DFS no trades AH
Apr. 22, 2014, 4:12 PM
Apr. 22, 2014, 12:10 AM
Apr. 21, 2014, 5:35 PM
Jan. 24, 2014, 7:41 AM
- Total loans grew $3.2B, or 5% from last year to $65.8B. Credit card loans grew $2B, of 4% to $53.1B. Discover card sales volume up 3%.
- Has credit quality gotten as good as it's going to get? The net charge-off rate for credit card loans ticked up 4 bps from last quarter to 2.09% and delinquencies over 30 days gained 5 bps to 1.72%.
- 7M shares repurchased during quarter, reducing float by 1%.
- FBR maintains its Outperform rating and boosts the price target to $65.
- DFS +1.6% premarket
- Press release, Q4 results
Jan. 23, 2014, 4:09 PM| 2 Comments
Jan. 23, 2014, 12:10 AM
Jan. 22, 2014, 5:35 PM
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