Does Discover (DFS) have what it takes to be a top stock pick for momentum investors? Let's find out.
Discover Financial Services DFS shares are trading higher today after the company reported better-than-expected second-quarter EPS results yesterday.
Discover's (DFS) management expects the loan growth to be down low single digits this year.
Discover Financial Services (NYSE:DFS ) Q2 2024 Results Conference Call July 18, 2024 8:00 AM ET Company Participants Eric Wasserstrom - Senior Vice President of Corporate Strategy and Investor Relations Michael Shepherd - Interim CEO John Greene - Chief Financial Officer Operator Good morning. My name is Todd, and I will be your conference operator today.
Discover Financial Services reported second-quarter results that indicated consumers are turning to debit transactions, while the company's card sales slipped year on year. CFO John Greene said on the Thursday (July 18) earnings call that Discover card sales were down 3% from the prior year.
Discover nearly doubled earnings expectations, while United missed on revenues and Chuy's gets a buyer.
The headline numbers for Discover (DFS) give insight into how the company performed in the quarter ended June 2024, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.
Discover (DFS) came out with quarterly earnings of $6.06 per share, beating the Zacks Consensus Estimate of $3.06 per share. This compares to earnings of $3.54 per share a year ago.
Discover Financial Services on Wednesday reported a 70% rise in second-quarter profit, as a high-rate environment helped the U.S. credit issuer earn more in interest income.
Discover Financial Services plans to sell its $10.1 billion private student loan portfolio. The company's Discover Bank entered into an agreement to sell the portfolio to one or more strategic partnerships made up of funds and accounts managed by global investment firms Carlyle and KKR, Discover said in a Wednesday (July 17) press release.
Discover Financial (NYSE: DFS) stock gained 22% YTD, as compared to the 18% rise in the S&P500 index. Notably, Discover Financial's peer American Express (NYSE: AXP) is up 30% YTD.
Discover Financial's (DFS) second-quarter results are likely to be aided by higher average receivables and growth in PULSE volume, partly offset by an elevated expense level.