Discover Financial profit rises 15 pct on higher net interest income

July 23 Tue Jul 23, 2013 4:22pm EDT

July 23 (Reuters) - Credit card company Discover Financial Services reported a 15 percent rise in quarterly profit as loan growth and lower interest expense boosted net interest income.

Net profit rose to $602 million, or $1.20 per share, in the second quarter, from $525 million, or 99 cents per share, a year earlier.

Revenue, net of interest expense, rose 9 percent to $2.04 billion.

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.