Discover Financial Services-Discover Financial (DFS) Q1 Earnings Miss on High Costs

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 ...