Discover Financial Services' CEO Discusses Q1 2012 Results - Earnings Call Transcript

Discover Financial Services (DFS)

Q1 2012 Earnings Call

March 21, 2012 5:00 pm ET


Craig A. Streem - Vice President of Investor Relations

David W. Nelms - Chairman and Chief Executive Officer

R. Mark Graf - Chief Financial Officer, Chief Accounting Officer and Executive Vice President


Sanjay Sakhrani - Keefe, Bruyette, & Woods, Inc., Research Division

Ryan M. Nash - Goldman Sachs Group Inc., Research Division

Christopher Brendler - Stifel, Nicolaus & Co., Inc., Research Division

David S. Hochstim - The Buckingham Research Group Incorporated

Mark C. DeVries - Barclays Capital, Research Division

John W. Stilmar - SunTrust Robinson Humphrey, Inc., Research Division

Craig J. Maurer - Credit Agricole Securities (USA) Inc., Research Division

Robert P. Napoli - William Blair & Company L.L.C., Research Division

Moshe Orenbuch - Crédit Suisse AG, Research Division

Bradley G. Ball - Evercore Partners Inc., Research Division

Martin Kemnec - Jefferies & Company, Inc., Research Division

Matthew Howlett - Macquarie Research



Welcome to the 2012 First Quarter Earnings Release Call. My name is Hilda, and I will be your operator for today's call. [Operator Instructions] Please note that this conference is being recorded. I will now turn the call over to Mr. Craig Streem. Mr. Streem, you may begin.

Craig A. Streem

Today, Hilda. And welcome, everyone, to this afternoon's call. We certainly appreciate your joining us for the discussion today. Let me begin by reminding everyone that the discussion today contains certain forward-looking statements about the company's future financial performance and business prospects, which are subject to risks and uncertainties and speak only as of today. Factors that could cause actual results to differ materially from these forward-looking statements are set forth within today's earnings press release, which was furnished to the SEC in an 8-K report and in our Form 10-K for the year ended November 30, 2011, which is on file with the SEC.

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