Tag Archives: loan loss

Discover posts weaker earnings, higher charge offs

Jeremy Simon

Credit card issuer Discover Financial Services reported a decline in first-quarter earnings, as the company suffered a loss related to the sale of United Kingdom credit card division Goldfish. Meanwhile, Discover said its domestic credit card unit experienced a 6 percent drop in pretax income amid a higher provision for loan losses — money set aside to cover loans that may go unpaid in the future.
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