U.S. Markets close in 3 hrs 37 mins

Synchrony: 1Q Earnings Snapshot

STAMFORD, Conn. (AP) _ Synchrony Financial (SYF) on Thursday reported first-quarter profit of $1.11 billion.

The Stamford, Connecticut-based company said it had net income of $1.56 per share. Earnings, adjusted for non-recurring gains, were $1 per share.

The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 88 cents per share.

The consumer credit company posted revenue of $4.79 billion in the period. Its adjusted revenue was $4.23 billion, falling short of Street forecasts. Four analysts surveyed by Zacks expected $4.29 billion.

Synchrony shares have climbed 42 percent since the beginning of the year. The stock has declined roughly 4 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 SYF at https://www.zacks.com/ap/SYF