Discover Q4 2021 Earnings Report
Key Takeaways
Discover Financial Services reported a strong fourth quarter in 2021, with net income reaching $1.1 billion, or $3.64 per diluted share, compared to $799 million, or $2.59 per diluted share, in the same period of 2020. The positive results reflect the benefits of Discover's integrated digital banking and payments model, the strength of its value proposition, and a supportive macroeconomic backdrop.
Net income for Q4 2021 was $1.1 billion, or $3.64 per diluted share, up from $799 million, or $2.59 per diluted share, in Q4 2020.
Full year 2021 net income reached $5.4 billion, or $17.83 per diluted share, compared to $1.1 billion, or $3.60 per diluted share, in 2020.
Digital Banking pretax income for the quarter was $1.5 billion, $467 million higher than the prior year period.
Payment Services had a pretax loss of $97 million, down $121 million year-over-year, driven by an unrealized loss on equity investments.
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Forward Guidance
Discover expects accelerated loan growth in 2022, driven by investments in acquisition, brand, and technology.