STAMFORD, Conn. (AP) — STAMFORD, Conn. (AP) — Synchrony Financial (SYF) on Wednesday reported first-quarter net income of $1.29 billion.
On a per-share basis, the Stamford, Connecticut-based company said it had profit of $3.14. Earnings, adjusted for non-recurring gains, came to $1.18 per share.
The results missed Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $1.37 per share.
The consumer credit company posted revenue of $5.57 billion in the period. Its adjusted revenue was $4.41 billion, which also did not meet Street forecasts. Eleven analysts surveyed by Zacks expected $4.44 billion.
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