- Revenue net of interest expense was up $86 million, or 4%, from the prior year to $2.1 billion.
- Total loans grew $3.5 billion, or 6%, from the prior year to $63.9 billion.
- Credit card loans grew $2.2 billion, or 5%, to $50.9 billion and Discover card sales volume increased 3% from the prior year.
- Net charge-off rate for credit card loans decreased 4 basis points from the prior year to 2.32% and the delinquency rate for loans over 30 days past due decreased 5 basis points to 1.72%.
- Payment Services pretax income was down $19 million from the prior year to $28 million. Transaction dollar volume for the segment was $50.8 billion, up 4% from the prior year.
Discover Financial Services Reports First Quarter Net Income Of $631 Million Or $1.31 Per Diluted Share
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
More than 30 investing pros with skin in the game give you actionable insight and investment ideas.