Discover Financial posts lower 2nd-qtr profit

June 19 Tue Jun 19, 2012 8:37am EDT

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.