Synchrony (SYF) Q4 Earnings Beat on Robust Receivables Growth

Synchrony Financial (SYF) reported fourth-quarter 2023 adjusted earnings per share (EPS) of $1.03, which beat the Zacks Consensus Estimate by 7.3%. However, the bottom line declined 18.3% year over year. Net interest income improved 8% year over year to $4,466 million, beating the consensus mark by 0.3%. SYF reported better-than-expected quarterly results benefiting from higher interest earned, thanks to a high- interest rate environment, expanding average loan receivables and elevated benchmark rates. Howe ...