Discover Q1 2021 Earnings Report
Key Takeaways
Discover Financial Services reported a net income of $1.6 billion, or $5.04 per diluted share, for the first quarter of 2021, compared to a net loss of ($61) million, or ($0.25) per diluted share, for the first quarter of 2020. The results were characterized by sustained strong credit performance, robust sales growth, and solid execution on operating and funding costs.
Net income was $1.6 billion, or $5.04 per diluted share, compared to a net loss of ($61) million, or ($0.25) per diluted share, in the first quarter of 2020.
Digital Banking pretax income was $2.0 billion, $2.2 billion higher than the prior year period.
Payment Services pretax income was $52 million, down $31 million year-over-year.
Payment Services volume was $75.9 billion, up 19% year-over-year.
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Forward Guidance
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements, which speak to our expected business and financial performance, among other matters, contain words such as “believe,” “expect,” “anticipate,” “intend,” “plan,” “aim,” “will,” “may,” “should,” “could,” “would,” “likely,” and similar expressions. Such statements are based upon the current beliefs and expectations of the company's management and are subject to significant risks and uncertainties.