U.S. Markets closed

Discover: 1Q Earnings Snapshot

RIVERWOODS, Ill. (AP) _ Discover Financial Services (DFS) on Thursday reported first-quarter earnings of $705 million.

The Riverwoods, Illinois-based company said it had profit of $2.15 per share.

The results topped Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $2 per share.

The credit card issuer and lender posted revenue of $3.4 billion in the period. Its adjusted revenue was $2.76 billion, which also topped Street forecasts. Five analysts surveyed by Zacks expected $2.75 billion.

Discover shares have climbed 31 percent since the beginning of the year, while the Standard & Poor's 500 index has risen 17 percent. In the final minutes of trading on Thursday, shares hit $77.50, an increase of almost 8 percent in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on DFS at https://www.zacks.com/ap/DFS