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Discover Financial 2018 1st Q Net Income $666 Million

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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.

 

 

https://investorrelations.discover.com/newsroom/press-releases/press-release-details/2018/Discover-F...

 


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
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