Discover beats Street 3Q forecasts

RIVERWOODS, Ill. (AP) _ Discover Financial Services (DFS) on Tuesday reported third-quarter profit of $639 million.

On a per-share basis, the Riverwoods, Illinois-based company said it had profit of $1.56.

The results beat Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of $1.48 per share.

The credit card issuer and lender posted revenue of $2.3 billion in the period, also beating Street forecasts. Seven analysts surveyed by Zacks expected $1.85 billion.

Discover shares have risen roughly 5 per cent since the beginning of the year, while the Standard & Poor’s 500 index has climbed roughly 5 per cent. In the final minutes of trading on Tuesday, shares hit $56.14, a decline of 1 per cent in the last 12 months.


This story was generated by Automated Insights ( using data from Zacks Investment Research. Access a Zacks stock report on DFS at


Keywords: Discover, Earnings Report, Priority Earnings