Discover Financial 2018 1st Q Net Income $666 Million
Discover Financial Services (NYSE: DFS) today reported net income of $666 million or $1.82 per diluted share for the first quarter of 2018, as compared to $564 million or $1.43 per diluted share for the first quarter of 2017. The company’s return on equity for the first quarter of 2018 was 25%.
First Quarter Highlights
Total loans grew $6.9 billion (9%) from the prior year to $82.7 billion.
Credit card loans grew $5.8 billion (10%) to $65.6 billion, on Discover card sales volume of $30.9 billion.
Total net charge-off rate, excluding purchased credit-impaired ("PCI") loans, increased 48 basis points from the prior year to 3.17% and the total 30+ day delinquency rate excluding PCI loans increased 26 basis points from the prior year to 2.23%.
Consumer deposits grew $4.2 billion (11%) from the prior year to $41.3 billion.
Payment Services transaction dollar volume was $56.1 billion, up 19% from the prior year.
Life was a lot simpler when what we honored was father and mother, rather than all major credit cards. ~Robert Orben
SCORES: Excellent · 830 to 848 INQUIRIES: 0 UNIVERSAL REVOLVERS: $200K Club NUMBER OF CC ACCOUNTS: Less than 10 CARD USAGE: Minimal CREDIT HISTORY: Very Lengthy · Seasoned Accounts INCOME: Sufficient UTIL: 1-2% PYMTS: 100% Positive · Always PIF · AZEO INSTALLMENTS: No thanks! ASSETS: 100% Equity TOTALLY REFUSE TO: Pay Interest or Annual Fees, Combine Accounts, Reduce Limits, Submit 4506-T, SCT, App Spree, Accumulate Inquiries, Do business with Comenity, Synchrony, Cap One, Wells Fargo, Citi, Barclays or any other credit-cancerous lending institutions