Close
Bonneville Phoenix Network
 KTAR News
 Arizona Sports
92.3 FM KTAR
Menu
Social
Latest News

News Summary: Discover posts higher 4Q net income

(AP) - COMING UP SHORT: Discover Financial Services' fiscal fourth-quarter earnings rose 6 percent to $541 million, or $1.07 per share. Still, the results fell short of analysts' consensus forecast, which called for earnings of $1.12 per share.

CHARGE! Total loans, credit card loans and Discover card sales volume all increased 6 percent in the quarter.

ON-TIME THIS TIME: The rate of charge-offs, when the company writes off unpaid credit card balances, dropped to a historic low of 2.29 percent. While the delinquency rate on credit-card loans over 30 days past due improved to 1.86 percent.


(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

Comments

comments powered by Disqus
Latest News