Share “News Summary: Discover posts higher 4Q profit”

News Summary: Discover posts higher 4Q profit

Published on NewsOK Modified: January 23, 2014 at 6:46 pm •  Published: January 23, 2014

BORROWING BOOST: Discover Financial Services reported an 11 percent gain in net income for the fourth quarter, as the lender and credit card issuer's benefited from a pickup in loans and card spending.

BOTTOM LINE: Discover posted a profit, after paying preferred dividends, of $588 million, or $1.23 per share, for the October-December quarter. Revenue after interest expense grew about 6 percent to $2.13 billion.

LOANS & SPENDING: Sales volume for Discover's namesake credit card rose 3 percent, while card loans rose 4 percent. Overall loans, including private education and personal loans, increased 5 percent.


  1. 1
    Amazon Is Developing a Galaxy Quest TV Show
  2. 2
    'Les Miserables' actor Kyle Jean-Baptiste dies after fall -
  3. 3
    VICE: It's Time to Accept Video Games As Art
  4. 4
    What if your boss paid you to have life experiences for 3 months?
  5. 5
    Study: Sometimes the 'irrational' choice is the best one
+ show more


× Trending business Article