Discover Q3 2020 Earnings Report
Key Takeaways
Discover Financial Services reported a net income of $771 million, or $2.45 per diluted share, for the third quarter of 2020, slightly higher than the $770 million reported for the same period in 2019. The results reflect solid credit performance and the benefits of actions taken to mitigate credit risk and align expenses.
Net income increased slightly year-over-year to $771 million.
Diluted EPS increased to $2.45, up from $2.36 in the prior year.
Total loans decreased by 4% year-over-year, ending the quarter at $88.7 billion.
Payment Services volume increased by 11% year-over-year, driven by growth in PULSE and Network Partners.
Discover
Discover
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.