WASHINGTON (dpa-AFX) - Discover Financial Services (DFS) Tuesday reported second-quarter net earnings to common stockholders of $630 million or $1.35 per share, compared with $588 million or $1.20 per share last year.
On average, 24 analysts polled by Thomson Reuters projected earnings of $1.30 per share for the quarter. Analysts' estimates typically exclude special items.
Revenue, net of interest expense, climbed 6 percent to $2.17 billion from $2.04 billion in the prior-year quarter. Nineteen analysts had a consensus revenue estimate of $2.16 billion.
Provision for loan losses for the quarter climbed to $360 million from $240 million last year, due mainly to higher loss reserve.
Total loans grew 7 percent from the prior year to $65.9 billion. Credit card loans grew 6 percent to $52.7 billion and Discover card sales volume increased 6 percent from the prior year.
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