Discover Financial Services shares reported earnings for the second quarter.
The company posted net income of $5.55 a share, in the second quarter, surpassing the $4.11 a share expected by analysts polled by FactSet. The figure also reflects a bounce-back from a pandemic-induced loss of -$1.20 a share in the year-ago quarter.
Net interest income climbed +5% year-over-year to $2.3 billion. Revenue, net of interest expense, came in at $3.58 billion, beating analysts’ expectation of $2.9 billion.
Discover’s Board of Directors approved share repurchases of up to $2.4 Billion of common stock, and a +14% increase in the quarterly common stock dividend to $0.50 Per Share.