Shares of Discover Financial Services (DFS) ticked lower in the extended session despite the credit card company blowing past analyst expectations for its fiscal first quarter.
The Riverwoods, Ill.-based company reported net income of $631 million, or $1.18 a share, for the three months ended in February, ahead of the average estimate of analysts polled by Thomson Reuters for a profit of 94 cents a share. Revenue came in at $1.84 billion, slightly above the consensus view of $1.82 billion.The stock was last quoted at $31.40, down less than 1%, on volume of 440,000, according to Nasdaq.com. At current levels, the shares are up more than 30% in 2012. Discover said card sales volume rose 7% year-over-year to $25.6 billion in the quarter, and that the delinquency rate for credit card loans over 30 days past due came in at 2.22%, "an improvement of 137 basis points from the prior year, and 17 basis points from the prior quarter." Check out TheStreet's quote page for Discover Financial for year-to-date share performance, analyst ratings, earnings estimates and much more. Other companies making news after the bell included Diamond Foods (DMND), whose stock was off 1.3% to $25.32 on volume of more than 360,000 after the troubled snacks company inked a deal to amend its credit agreement that calls for it to suspend dividend payments; Sonic Corp. (SONC), whose shares fell 5.2% to $7.63 on volume of more than 20,000 after the drive-in restaurant operator missed on the top line with its fiscal second-quarter results, reporting revenue of $115.1 million, below Wall Street's consensus view of $116.8 million; and Sturm, Ruger & Co. (RGR), whose stock advanced 11.1% to $46.98 on volume of nearly 20,000 after the gun maker said it's received orders for more than one million units in the first quarter. --Written by Michael Baron in New York.
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