Discover Financial Services (DFS) reported quarterly earnings results on Tuesday, Jul-19-2016. The company said it had a profit of $1.47 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.07. Analysts had a consensus of $1.40. The company posted revenue of $2216.00 million in the period, compared to analysts expectations of $2228.30 million. The company’s revenue was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.33 EPS.
Many Wall Street Analysts have commented on Discover Financial Services. Discover Financial Services was Downgraded by Macquarie to ” Neutral” on May 11, 2016.
Discover Financial Services closed down -0.33 points or -0.57% at $57.09 with 29,61,925 shares getting traded on Monday. Post opening the session at $57.4, the shares hit an intraday low of $57 and an intraday high of $57.65 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.
In a different news, on Jul 6, 2016, Diane E Offereins (EVP) sold 10,000 shares at $53.66 per share price. According to the SEC, on Jul 6, 2016, David W Nelms (Chairman & CEO) sold 15,000 shares at $53.61 per share price. On Jul 6, 2016, Carlos Minetti (EVP) sold 10,000 shares at $53.54 per share price, according to the Form-4 filing with the securities and exchange commission.
Discover Financial Services (DFS) is a direct banking and payment services company. The Company is a bank holding company as well as a financial holding company. The Company provides direct banking products and services and payment services through its subsidiaries. The Company manages its business activities in two segments: Direct Banking and Payment Services. Direct Banking segment includes consumer banking and lending products specifically Discover-branded credit cards issued to individuals and small businesses on the Discover Network and other consumer banking products and services including private student loans personal loans home loans home equity loans prepaid cards and other consumer lending and deposit products. The Payment Services segment includes PULSE Diners Club and the Companys network partners business which provides payment transaction processing and settlement services on the Discover Network.