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4 years ago
Discover Financial profit rises 15 pct on higher net interest income
July 23, 2013 / 8:23 PM / 4 years ago

Discover Financial profit rises 15 pct on higher net interest income

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.

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