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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| GE Aerospace | NYSE:GE | NYSE | Common Stock |
| Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| -0.31 | -0.19% | 159.58 | 161.42 | 158.82 | 159.87 | 5,584,291 | 01:00:00 |
From May 2019 to May 2024
Discover Financial Services said total loans rose 4% to $71.9 billion in the second quarter, reflecting growth in credit-card lending as well as other categories such as student loans.
Profit rose 3% to $616 million, a figure that included a nonrecurring tax benefit of $44 million.
Earnings per share rose to $1.47, including a tax benefit of 11 cents, from $1.33 a year earlier. Analysts polled by Thomson Reuters had projected $1.42. Such estimates typically exclude nonrecurring items.
Shares rose 2 cents to $57 in after-hours trading.
In January, Chief Executive David Nelms set a target to increase total loans by between 4% and 6% in 2016.
Shares of Discover and other card companies fell when store-card issuer Synchrony Financial increased its credit-loss forecast on June 14. Last Friday, Discover said its delinquency rate in June was 1.6%, flat with a year ago.
On June 29, Discover said the Federal Reserve had no objections to its capital plan, which includes a dividend increase to 30 cents from 28 cents and up to $1.95 billion of stock buybacks through June 2017.
Write to Josh Beckerman at josh.beckerman@wsj.com
(END) Dow Jones Newswires
July 19, 2016 17:35 ET (21:35 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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