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Discover Financial posts lower 2nd-qtr profit
June 19 |
June 19 (Reuters) - Credit card company Discover Financial Services posted a lower second-quarter profit as it set aside more money to cover bad debts.
Discover posted a profit of $537 million, or $1.00 per share, compared with $600 million, or $1.09 per share, a year earlier.
Provision for loan losses rose 32 percent to $232 million.
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