Discover’s 3Q net income up nearly 9 percent

SHARE Discover’s 3Q net income up nearly 9 percent

RIVERWOODS — Discover Financial Services says its third-quarter net income increased nearly 9 percent to beat market expectations.

The credit card issuer and lender’s gains were made on increased credit card spending and overall lending.

Discover said Tuesday that its net income after preferred dividends rose to $630 million, or $1.37 per share. That compares with $579 million, or $1.20 per share, a year earlier. Revenue net of interest expense rose to $2.19 billion from $2.06 billion.

Analysts polled by FactSet expected earnings of $1.34 per share on revenue of $2.2 billion.

Shares of the Riverwoods-based company ended regular trading up $1.68 to $64.38 and added 13 cents in extended trading following the report.

The Latest
Democrats have even gained a half-point lead over Republicans nationwide in the so-called “generic ballot” that asks voters which party they’re inclined to support in congressional elections.
He’ll play slot cornerback, one of the most important in Matt Eberflus’ defensive scheme, to start the season.
Alison Brie and the cast are fantastic, but the story veers unsuccessfully from light to dark to silly.
From Seattle, Patrick Finley and Jason Lieser wonder whether Justin Fields and Cole Kmet is the Bears’ next great connection, what role Teven Jenkins has to play and how Velus Jones can help the team the most.
The custodian recorded a female staff member inside the restroom of Washington Elementary School, Park Ridge police said.