Discover Financial Services (DFS) reported first-quarter 2024 adjusted earnings per share (EPS) of $1.10, which missed the Zacks Consensus Estimate by 63.1%. The bottom line declined 69.3% year over year.DFS' revenues, net of interest expenses, climbed 12.3% year over year to $4.2 billion. The top line beat the consensus mark by 3.7%.The weak first-quarter earnings were due to escalating operating costs, feeble contributions from the Digital Banking segment and higher provision for credit losses. The compan ...

The $35 billion deal for Capital One to buy Discover Financial Services remains on track.And in a truncated first-quarter earnings call — where the usual question-and-answer session was not part of the proceedings — Discover’s management noted that consumer loans are on the upswing. In the meantime, credit card spending has been pressured by inflation.CFO John Greene said in his prepared remarks on the Thursday (April 18) call that card sales were down 1% compared to the prior year quarter.“Sales slowed acr ...

Discover Financial Services (NYSE:DFS) Q1 2024 Results Conference Call April 18, 2024 8:00 AM ET Company Participants Eric Wasserstrom - Senior Vice President of Corporate Strategy and Investor Relations Michael Shepherd - Interim CEO John Greene - Chief Financial Officer Operator Good morning. My name is Todd, and I will be your conference operator today. At this time, I would like to welcome everyone to the First Quarter 2024 Discover Financial Services Earnings Conference Call. [Operator Instructions] Pl ...

Discover (DFS) reported $4.21 billion in revenue for the quarter ended March 2024, representing a year-over-year increase of 12.2%. EPS of $1.10 for the same period compares to $3.58 a year ago.The reported revenue represents a surprise of +3.68% over the Zacks Consensus Estimate of $4.06 billion. With the consensus EPS estimate being $2.98, the EPS surprise was -63.09%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine thei ...

Discover (DFS) came out with quarterly earnings of $1.10 per share, missing the Zacks Consensus Estimate of $2.98 per share. This compares to earnings of $3.58 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -63.09%. A quarter ago, it was expected that this credit card issuer and lender would post earnings of $2.50 per share when it actually produced earnings of $1.54, delivering a surprise of -38.40%.Over the last four quarte ...

DISCOVER FINANCIAL SERVICES Exhibit 99.2 EARNINGS SUMMARY (unaudited, in millions, except per share statistics) Quarter Ended Mar 31, Dec 31, Sep 30, Jun 30, Mar 31, Mar 31, 2024 vs. 2024 2023 2023 2023 20231 Mar 31, 2023 EARNINGS SUMMARY Interest Income $4,948 $4,868 $4,610 $4,290 $4,077 $871 21 % Interest Expense 1,461 1,400 1,288 1,113 945 516 55 % Net Interest Income 3,487 3,468 3,322 3,177 3,132 355 11 % Discount/Interchange Revenue 1,074 1,158 1,164 1,158 1,046 28 3 % Rewards Cost 703 788 787 788 716 ...

RIVERWOODS, ILLINOIS - FEBRUARY 19: A sign sits at the entrance of the Discover Financial Services ... [+] corporate headquarters campus on February 19, 2024 in Riverwoods, Illinois. Capital One plans to buy Discover Financial Services, a deal that would merge two of the nation's largest credit-card companies. (Photo by Scott Olson/Getty Images)Getty ImagesDiscover Financial (NYSE: DFS) is scheduled to report its fiscal Q1 2024 results on Wednesday, April 17, 2023 (after market close). We expect Discover Fi ...

Discover Financial Services (DFS) is set to report its first-quarter 2024 results on Apr 17, after the closing bell.What Do the Estimates Say?The Zacks Consensus Estimate for first-quarter earnings per share of $2.96 suggests a 17.3% decrease from the prior-year figure of $3.58. The consensus mark remained stable over the past week. The consensus estimate for first-quarter revenues of $4.1 billion indicates an 8.2% increase from the year-ago reported figure.Discover Financial missed the consensus estimate f ...

Discover Financial Services (DFS) recently struck a strategic partnership with Google Cloud to bring generative AI or gen AI technology to its customer care centers. The technology is expected to improve agent productivity, and enable delivering faster, personalized and efficient resolutions, enhancing customer experience.Per the deal, DFS will leverage Vertex AI, Google Cloud's AI platform, to equip its around 10,000 contact center agents with gen AI-driven tools. This will help the agents to analyze compl ...

Wall Street expects a year-over-year decline in earnings on higher revenues when Discover (DFS) reports results for the quarter ended March 2024. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates.The earnings report, which is expected to be released on April 17, 2024, might help the stock move higher if these key numbers are better than expectatio ...