Discover Financial profit falls 6 percent

April 22 Tue Apr 22, 2014 4:14pm EDT

April 22 (Reuters) - Credit card issuer Discover Financial Services reported a 6 percent fall in quarterly profit, hurt by higher provision for loan losses.

Net income allocated to common stockholders fell to $618 million, or $1.31 per share, in the first quarter ended March 31, from $659 million, or $1.33 per share, a year earlier.

Revenue, net of interest expense, rose 4 percent to $2.08 billion.

(Reporting By Neha Dimri in Bangalore; Editing by Savio D'Souza)


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