Discover Financial profit rises 11 pct

Thu Jan 23, 2014 4:16pm EST

Jan 23 (Reuters) - Credit card issuer Discover Financial Services reported an 11 percent rise in fourth-quarter profit as more consumers used cards to make payments.

Net income allocated to common stockholders rose to $588 million, or $1.23 per share, in the quarter ended Dec. 31, from $530 million, or $1.06 per share, a year earlier.

Revenue net of interest expense rose 6 percent to $2.13 billion.

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