RIVERWOODS, Ill. (AP) _ Discover Financial Services (DFS) on Thursday reported fourth-quarter net income of $708 million.
The Riverwoods, Illinois-based company said it had net income of $2.25 per share.
The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $2.23 per share.
The credit card issuer and lender posted revenue of $3.56 billion in the period. Its adjusted revenue was $2.94 billion, which did not meet Street forecasts. Five analysts surveyed by Zacks expected $2.95 billion.
Discover shares have risen 1% since the beginning of the year, while the Standard & Poor’s 500 index has increased nearly 3%. In the final minutes of trading on Thursday, shares hit $85.85, an increase of 30% in the last 12 months.
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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
