RIVERWOODS, Ill. (AP) — RIVERWOODS, Ill. (AP) — Discover Financial Services (DFS) on Wednesday reported first-quarter net income of $308 million.
The Riverwoods, Illinois-based company said it had net income of $1.10 per share.
The results fell short of Wall Street expectations. The average estimate of 16 analysts surveyed by Zacks Investment Research was for earnings of $2.98 per share.
The credit card issuer and lender posted revenue of $5.67 billion in the period. Its adjusted revenue was $4.21 billion, which topped Street forecasts. Sixteen analysts surveyed by Zacks expected $4.06 billion.
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