Investing.com - Discover reported on Wednesday first quarter earnings that missed analysts' forecasts and revenue that topped expectations.
Discover announced earnings per share of $-0.25 on revenue of $2.89B. Analysts polled by Investing.com anticipated EPS of $0.99 on revenue of $2.88B. That with comparison to EPS of $2.15 on revenue of $2.76B in the same period a year before. Discover had reported EPS of $2.25 on revenue of $2.94B in the previous quarter. Analysts are expecting EPS of $1.89 and revenue of $2.83B in the upcoming quarter.
Discover shares are down 58% from the beginning of the year , still down 62.20% from its 52 week high of $92.98 set on July 26, 2019. They are under-performing the S&P 500 which is down 13.73% year to date.
Discover follows other major Financial sector earnings this month
Discover's report follows an earnings missed by JPMorgan on April 14, who reported EPS of $0.78 on revenue of $29.07B, compared to forecasts EPS of $1.87 on revenue of $29.54B.
UnitedHealth had beat expectations on April 15 with first quarter EPS of $3.72 on revenue of $64.42B, compared to forecast for EPS of $3.63 on revenue of $64.16B.
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