Discover Financial Services (DFSÂ -Â Free Report) released its fourth quarter fiscal 2016 earnings results, posting earnings of $1.40 per share and revenue of $2.36 billion.Â
DFS was down 0.11% to $69.80 in after-hours trading shortly after its earnings report was released.
Currently, DFS has a Zacks Rank #3 (Hold), but it is subject to change following the release of the company’s latest earnings report. Here are 5 key statistics from this just announced report below.
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Beat earnings estimates. The company posted earnings of $1.40 per share, beating our Zacks Consensus Estimate of $1.38 per share.
Beat revenue estimates. The company saw revenue figures of $2.36 billion, beating our estimate of $1.802 billion.
In quarter four of 2016 DFS experienced high revenue growth. Their receivables increased by 7% YoY to $77.3 billion. Also, personal loan originations grew 31% to $4.0 billion and student loan originations grew 9% to $1.4 billion.
DFS guidance shows an expectation of 5.5% to 7.5% total loan growth in 2017. The company expects to generate strong returns on equity this coming year, also.
“We delivered robust revenue growth in the fourth quarter with a solid operating efficiency ratio†says chairman and CEO David Nelms.
Here’s a graph that looks at Discover Financial Services’ price, consensus and EPS surprise:
Discover Financial Services Price, Consensus and EPS Surprise
Discover Financial Services Price, Consensus and EPS Surprise | Discover Financial Services Quote