Categories Earnings, Finance, LATEST

Synchrony Financial (NYSE: SYF): Q4 2019 Earnings Snapshot

— Synchrony Financial (NYSE: SYF) reported earnings of $731 million or $1.15 per share for the fourth quarter of 2019, vs. $1.07 per share expected.

— Net interest income dropped 7% to $4 billion, with impact from the sale of Walmart consumer portfolio offsetting loan receivables growth, vs. $4.07 billion expected

— Loan receivables declined 6% to $87.2 billion, while purchase volume remained flat at $40.2 billion

— Average active accounts dropped 5% to 74 million; deposits grew 2% to $65.1 billion

— Announced partnership with Verizon, making Synchrony the exclusive issuer of the latter’s co-branded consumer credit card

— Paid quarterly dividend of $0.22 per share; repurchased $1.4 billion of stock

— Provision for loan losses decreased 24% to $1.1 billion; efficiency ratio came in at 34.8%

Listen to publicly listed companies’ earnings conference calls along with the edited closed caption text

Also Read:  White House lifts ZTE ban. But there’s a catch!

Most Popular

With right product mix and CAPEX discipline, Canopy Growth (CGC) can hit growth path

The latest quarterly performance of Canopy Growth Corporation (NYSE: CGC) was nothing short of a disaster, with the cannabis firm incurring a whopping C$1-billion loss in the final months of

Google’s cloud business is well-positioned for growth going forward

Alphabet’s (NYSE: GOOGL) subsidiary Google makes most of its money through its search and advertisement businesses but its cloud division is no small player. This segment is a significant growth

Nio (NIO) picks up speed after hitting COVID-19 roadblock and positions itself for future growth

The coronavirus outbreak impacted the automobile industry as a whole as operations were disrupted and people deferred their vehicle purchases due to a slump in the economy. Overall passenger vehicle

Top