Consumer financial services company Synchrony Financial (NYSE: SYF) reported earnings results for the first quarter of 2023.
- First-quarter net income available to stockholders decreased to $590 million or $1.35 per share from $922 million or $1.77 per share in the year-ago quarter
- Net interest income was $4.05 billion, which is up 6.9% year-over-year
- Purchase volume increased 3% annually to $41.6 billion, or 11% on a core basis
- Average active accounts decreased by 1% to 69.5 million or increased by 8% on a core basis
- Net interest margin decreased 58 basis points to 15.22%; return on equity decreased 9.3% to 18.2%
- During the quarter, the company returned $500 million of capital to shareholders, including $400 million of share repurchases
_________________________________________________________________________________________________________________
Stocks you may like:
_________________________________________________________________________________________________________________
Most Popular
QCOM Earnings: Qualcomm Q2 2024 revenue and profit beat Street view
Semiconductor company Qualcomm, Inc. (NASDAQ: QCOM) reported an increase in earnings and revenues for the second quarter of 2024. The numbers came in above analysts' estimates. At $9.39 billion, March-quarter
Key takeaways from Amazon’s Q1 2024 earnings report
Amazon.com Inc. (NASDAQ: AMZN) had an upbeat start to fiscal 2024, delivering strong growth across the business in the first three months of the year. While the cloud segment continues
Key takeaways from Pfizer’s (PFE) Q1 2024 earnings report
Shares of Pfizer Inc. (NYSE: PFE) gained over 5% on Wednesday following the company’s announcement of its first quarter 2024 earnings results. Although the top and bottom line numbers decreased
