Why Shares of Discover Financial Services Are Falling Today
Shares of the consumer digital bank and payments company Discover Financial Services (NYSE: DFS) traded as much as 7.7% lower earlier this morning before paring some of those losses. As of 10:34 a.m. ET today, the stock traded roughly 3% lower.
Discover reported its fourth-quarter earnings results last night and held a conference call this morning. The company reported diluted earnings per share of $3.77 on total revenue of more than $3.7 billion. Both numbers beat estimates.
However, investors seem concerned by the outlook for credit as the company heads into tougher economic conditions in 2023.
Source Fool.com
