- 33, 53, 54, 60, 69, 79, 91,
** charts before earnings **
** charts after earnings **
- Reports Q4 (Dec) earnings of $2.03 per share, $0.03 worse than the S&P Capital IQ Consensus of $2.06; revenues rose 7.4% year/year to $2.81 bln vs the $2.81 bln S&P Capital IQ Consensus. Total loans ended the quarter at $90.5 billion, up 7% compared to the prior year. Credit card loans ended the quarter at $72.9 billion, up 8% from the prior year. Personal loans increased $80 million, or 1%, from the prior year. Private student loans increased $205 million, or 2%, year-over-year, and grew $652 million, or 9%, excluding purchased student loans. Net interest income increased $181 million, or 9%, from the prior year, driven by loan growth and net interest margin expansion. Net interest margin was 10.35%, up 7 basis points versus the prior year. Card yield was 13.20%, an increase of 41 basis points from the prior year as a result of increases in the prime rate, partially offset by a change in portfolio mix and higher interest charge-offs. Interest expense as a percent of total loans increased 61 basis points from the prior year, primarily as a result of higher market rates.
- Provision for loan losses of $800 million increased $122 million from the prior year due to higher net charge-offs and a higher reserve build. The reserve build for the fourth quarter of 2018 was $120 million, compared to a reserve build of $94 million in the fourth quarter of 2017.
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