Synchrony Financial beats by $0.06; beats on revs :
- Reports Q3 (Sep) earnings of $0.73 per share, $0.06 better than the Capital IQ Consensus of $0.67. Co reported Q3 revs +13% YoY to $2.808 bln (net interest income after retailer share arrangements plus other income) vs $2.673 bln Capital IQ consensus
- Net interest income increased $378 million, or 12%, to $3.5 billion, primarily driven by strong loan receivables growth.
- Provision for loan losses increased $284 million to $986 million due to higher loan loss reserve build and loan receivables growth.
- Efficiency ratio was 30.6%, a 362 basis point improvement from the third quarter of 2015.
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