Synchrony Financial Earnings Up

Synchrony Financial

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(RTTNews) - Synchrony Financial (SYF), a consumer financial services company, on Tuesday announced that its earnings increased but revenue declined in the second quarter compared to the previous year.

For the second quarter, net earnings available to common shareholders increased 51.6 percent to $946 million from $624 million in the prior year.

Earnings per share were $2.50 versus $1.55 last year.

Sixteen analysts, on average, had expected the company to report $1.79 per share. Analysts' estimates typically exclude special items.

Net interest income increased 2.6 percent to $4.52 billion from $4.41 billion last year.

Loan receivables declined to $99.78 billion from $102.28 billion in the same period last year.

Deposits increased to $82.26 billion from $83.10 billion prior year.

Revenue decreased 1.8 percent to $3.65 billion from $3.71 billion in the previous year.

In the pre-market trading, Synchrony Financial is 0.53% lesser at $69.10 on the New York Stock Exchange.