Discover Financial Services
DFS
ISIN US2547091080 / Valor 3181247
Discover Financial Services
UMushroom community rating:
About company
Discover Financial Services is a global financial services company that offers a range of products and services, including credit cards, banking, and payment processing. The company's acquisition of Diners Club International in 2008 expanded its global reach, allowing Discover cardholders to use their cards on the Diners Club network. Discover has a unique approach to partnerships, which has led to rapid growth and increased acceptance of its cards worldwide. Additionally, Discover's acquisition of Greenwood Trust Company in 1985, which later became Discover Bank, has further expanded its banking services. The company is committed to enhancing employment opportunities and promoting equity in the communities where it operates, as evidenced by the recent groundbreaking ceremony for a new customer care center in Whitehall, Ohio.
Summarized from source with an LLMView SourceSector: FinanceLatest Results (17.12.2024):
Net Income Growth
Discover Financial Services reported a net income of $965 million for the third quarter of 2024, marking a significant increase from the $683 million reported in the same quarter of 2023. This represents a 41% year-over-year growth, highlighting the company's strong financial performance during this period.
Revenue Increase
The total revenue net of interest expense for Discover Financial Services in the third quarter of 2024 was $4,453 million, up 10% from $4,044 million in the third quarter of 2023. This increase was driven by higher average receivables and net interest margin expansion.
Earnings Per Share
For the third quarter of 2024, Discover Financial Services reported diluted earnings per share (EPS) of $3.69, compared to $2.59 in the same quarter of the previous year. This 42% increase in EPS reflects the company's improved profitability and operational efficiency.
Dividend Declaration
The Board of Directors of Discover Financial Services declared a quarterly cash dividend of $0.70 per share of common stock. This dividend is payable on December 5, 2024, to shareholders of record at the close of business on November 21, 2024, demonstrating the company's commitment to returning value to its shareholders.
Loan Portfolio and Charge-Offs
Discover Financial Services ended the third quarter of 2024 with total loans of $127.0 billion, a 4% increase from the previous year. However, the total net charge-off rate rose to 4.86%, up 134 basis points from the prior year, reflecting continued seasoning of recent vintages and changes in student loan accounting classification.
Summarized from source with an LLMView SourceKey figures
Performance
Volatility
44447 M
Market cap (USD)
159,849
Daily traded volume (Shares)
176.64 / 173.7
1 day high/low (USD)
52 weeks high/low (USD)
Dividend ex-date
Dividend (USD)
Dividend yield (p.a.)
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P/E ratio
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EPS (USD)
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Ratings & reviews
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