Categories Earnings, Finance

Earnings Summary: A snapshot of Discover Financial Services’ (DFS) Q4 report

Discover Financial Services (NYSE: DFS) has reported financial results for the fourth quarter of 2023. The company’s board of directors declared a semi-annual dividend for preferred stock and a quarterly dividend for common stock.

  • Q4 net income increased to $388 million or $1.54 per share from $1.0 billion or $3.74 per share for the fourth quarter of 2022
  • At $3.47 billion, net interest income was up 13% year-over-year; interest income climbed 26% from last year to $4.87 billion
  • Digital Banking pretax income more than halved year-over-year to $458 million in the fourth quarter
  • Payment services pretax income increased to $54 million in Q4 from $37 million last year
  • The company declared a semi-annual dividend of $3,062.50 per share on its preferred stock
  • The board also declared a quarterly dividend of $0.70 per share on the common stock

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