Synchrony Financial beats by $0.06
- Reports Q3 (Sep) earnings of $0.70 per share, $0.06 better thanthe Capital IQ Consensus of $0.64.
- Net interest income increased $395 million, or 11%, to $3.9 billion, primarily driven by strong loan receivables growth.
- Net interest income after retailer share arrangements increased 13%. Provision for loan losses increased $324 million to $1.3 billion driven by credit normalization and loan receivables growth.
- Efficiency ratio was 30.4%, compared to 30.6% in the third quarter of 2016, driven by strong positive operating leverage. Year-to-date efficiency ratio was 30.3%, compared to 31.0% in the prior year.
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