- 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 (NYSE: DFS) today reported net income of $631 million or $1.31 per diluted share for the first quarter of 2014, as compared to $673 million or $1.33 per diluted share for the first quarter of 2013. The company's return on equity for the first quarter of 2014 was 23%. First Quarter Highlights