Discover Financial Crushes Q1 Earnings and Revenue Estimates

Discover Financial Services (DFS - Analyst Report) released its first quarter fiscal 2016 earnings results after market close yesterday, posting earnings of $1.35 per share and revenue of $2.22 billion.  

Currently, DFS has a Zacks Rank #4 (Sell), but it is subject to change following the release of the company’s latest earnings report. Here are 5 key statistics from this just announced report below.

Discover:                                              

1. Beat earnings estimates. The company posted earnings of $$1.35 per share, topping our Zacks Consensus Estimate of $1.30.

2. Beat revenue estimates. The company saw revenue figures of $2.22 billion, surpassing our consensus estimate of $1.762 billion and reflecting a positive 2.3% year-over-year change.

3. Total loans grew $2.7 billion, or 4%, from the prior year to $70.3 billion.

4. Reported net income of $575 million.

5. DFS was up $1.50, or 2.85%, to $54.05 as of 4:52 PM ET in after hours trading shortly after its earnings report was released.

Here’s a graph that looks at Discover’s Street EPS and Surprise Percent:

Discover Financial Services (DFS - Analyst Report) Street EPS & Surprise Percent - Last 5 Quarters | FindTheCompany

Discover Financial Services operates the Discover Card with more than fifty million card members, the Discover Network with millions of merchant and cash access locations, and the Goldfish credit card business in the United Kingdom. Discover Financial Services also operates the pulse ATM/debit network, which serves more than four thousand four hundred financial institutions and includes nearly sixty thousand ATMs, as well as POS terminals, nationwide.