Discover tops Street 2Q forecasts

RIVERWOODS, Ill. (AP) _ Discover Financial Services (DFS) on Tuesday reported second-quarter profit of $602 million.

The Riverwoods, Illinois-based company said it had profit of $1.47 per share.

The results exceeded Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $1.42 per share.

The credit card issuer and lender posted revenue of $2.22 billion in the period, also exceeding Street forecasts. Seven analysts surveyed by Zacks expected $1.8 billion.

Discover shares have climbed slightly more than 6 per cent since the beginning of the year, while the Standard & Poor’s 500 index has climbed almost 6 per cent. In the final minutes of trading on Tuesday, shares hit $56.98, a fall of 4.5 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


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