COLUMBUS, Ohio (AP) — COLUMBUS, Ohio (AP) — Bread Financial Holdings, Inc. (BFH) on Thursday reported first-quarter profit of $138 million.
The Columbus, Ohio-based company said it had net income of $2.78 per share. Earnings, adjusted to account for discontinued operations, were $2.86 per share.
The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $2.10 per share.
The manager of loyalty and rewards programs for retailers and others posted revenue of $1.2 billion in the period. Its adjusted revenue was $970 million, which also topped Street forecasts. Six analysts surveyed by Zacks expected $957.8 million.
Bread Financial shares have decreased 22% since the beginning of the year. The stock has increased 33% in the last 12 months.
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