RIVERWOODS, Ill. (AP) _ Discover Financial Services (DFS) on Tuesday reported third-quarter net income of $770 million.
The Riverwoods, Illinois-based company said it had net income of $2.36 per share.
The results topped Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $2.29 per share.
The credit card issuer and lender posted revenue of $3.54 billion in the period. Its adjusted revenue was $2.9 billion, which also beat Street forecasts. Six analysts surveyed by Zacks expected $2.88 billion.
Discover shares have increased 38% since the beginning of the year, while the Standard & Poor’s 500 index has risen 20%. In the final minutes of trading on Tuesday, shares hit $81.24, a climb of slightly more than 9% in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on DFS at https://www.zacks.com/ap/DFS
The Associated Press