DFS - Discover Financial Faces Concerns Over Remediation Reserve Analysts Caution Despite Q1 Sales Growth | Benzinga
Discover Financial Services (NYSE:DFS) shares are trading higher on Thursday.
The company reported first-quarter revenue of $4.21 billion, net of interest expense, which was up 13% year-over-year. The total beat a Street estimate of $4.07 billion, according to data from Benzinga Pro.
Read More: Discover Financial Q1 Earnings Highlights: Revenue Beat, Charge-Offs Rise, Merger Update And More
Goldman Sachs analyst Ryan M. Nash highlights the company’s whopping $799 million charge related to the card misclassification remediation reserve in the quarter, which Discover Financial Services has incurred in the quarter under review.
In terms of credit, March metrics showed signs of improvement, with card ...