Discover Announces 2Q Net Income

Discover Financial Services Inc. on Thursday reported second-quarter net income of $225.8 million, or 43 cents a share, compared with $234.1 million, or 48 cents a share, in the year-ago period. 

PIN Debit Payments Blog did the math and that constitutes about a 3.6% drop.  I assume analysts thought it would be worse, because their stock is up.  According to MarketWatch,  Discover Financial Services jumped 7.2% to $9.55 after it reported second-quarter net income.  What makes Discover unique, is that unlike most of its peers, which either issue plastic or process thetransactions, Discover does both. 

Discover also pointed out that net income in the latest quarter included about $295 million related to the Visa/MasterCard antitrust litigation settlement.