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Dec 31, 2020
Discover Q4 2020 Earnings Report
Discover reported Q4 2020 earnings, with net income increasing and total loans decreasing.
Key Takeaways
Discover Financial Services reported a net income of $799 million, or $2.59 per diluted share, for the fourth quarter of 2020. This represents an increase compared to the fourth quarter of 2019. The company's total loans decreased by 6% year-over-year.
Net income for Q4 2020 was $799 million, or $2.59 per diluted share, compared to $708 million, or $2.25 per diluted share, for Q4 2019.
Total loans at the end of the quarter were $90.4 billion, a 6% decrease year-over-year.
Direct Banking pretax income was $991 million, $108 million higher than the prior year period.
Payment Services pretax income was $24 million, down $17 million year-over-year.
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Forward Guidance
Discover did not provide specific financial guidance in the earnings report.