Business

Discover Financial Services reports 1Q net income of $1B

Posted April 20, 2023 1:00 am

BUSINESS WIRE

RIVERWOODS - Discover Financial Services reported net income of $1 billion or $3.58 per diluted share for the first quarter of 2023, as compared to a net income of $1.2 billion or $4.22 per diluted share for the first quarter of 2022.

"Our results for the first quarter of 2023 indicate a solid start to the year, with continued receivables growth and record deposit inflows, while credit is normalizing as expected. While there was stress across some segments of the banking system, our strong funding and capital generative business model enabled us to invest for growth while sustaining significant capital return to shareholders," said Roger Hochschild, CEO and President of Discover. "We believe these factors create a compelling position for Discover in 2023 and beyond."

Article Comments

Article Categories
Business Communities Finance Riverwoods

Article Comments

Guidelines: Keep it civil and on topic; no profanity, vulgarity, slurs or personal attacks. People who harass others or joke about tragedies will be blocked. If a comment violates these standards or our terms of service, click the "flag" link in the lower-right corner of the comment box. To find our more, read our FAQ.