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Sep 30, 2021
Discover Q3 2021 Earnings Report
Discover reported net income of $1.1 billion, or $3.54 per diluted share, for Q3 2021.
Key Takeaways
Discover Financial Services reported a net income of $1.1 billion, or $3.54 per diluted share, for the third quarter of 2021, compared to $771 million, or $2.45 per diluted share, for the third quarter of 2020. The results reflect the strengths of Discover's integrated digital banking and payments model, driven by strong new account growth and effective cost management.
Net income for Q3 2021 was $1.1 billion, or $3.54 per diluted share.
Total loans ended the quarter at $89.5 billion, up 1% year-over-year.
Digital Banking pretax income was $1.5 billion, higher than the prior year period.
Payment Services volume was $76.8 billion, up 10% year-over-year.
Revenue by Segment
Forward Guidance
The press release contains forward-looking statements that speak to the company's expected business and financial performance, which are subject to risks and uncertainties.
Positive Outlook
- The company's ability to manage its expenses.
- The company's ability to successfully achieve card acceptance across its networks and maintain relationships with network participants.
- The company's ability to sustain and grow its non-card products.
- The company's ability to manage its credit risk, market risk, liquidity risk, operational risk, compliance and legal risk, and strategic risk.
- The company's ability to increase or sustain Discover card usage or attract new customers.
Challenges Ahead
- The effect of the coronavirus disease 2019 (COVID-19) pandemic and measures taken to mitigate the pandemic.
- Changes in economic variables, such as the availability of consumer credit, the housing market, energy costs, the number and size of personal bankruptcy filings, the rate of unemployment, the levels of consumer confidence and consumer debt, and investor sentiment.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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