Discover

Jan 22, 2025

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Dec 31, 2024

Discover Q4 2024 Earnings Report

Discover reported a strong Q4 2024 with increased net income and diluted EPS compared to the previous year, driven by loan growth and margin expansion.

Key Takeaways

Discover Financial Services reported a net income of $1.3 billion, or $5.11 per diluted share, for the fourth quarter of 2024, a significant increase from the $366 million, or $1.45 per diluted share, in the fourth quarter of 2023. The company's performance was driven by loan growth, margin expansion, and credit improvement.

Net income for Q4 2024 was $1.3 billion, or $5.11 per diluted share.

Total loans ended the quarter at $121.1 billion, a decrease of 6% year-over-year.

Digital Banking pretax income was $1.6 billion, reflecting a decrease in provision for credit losses and increased revenue.

Payment Services pretax income increased by 37% year-over-year due to volume growth and timing of incentives.