Discover Financial Services (NYSE: DFS) recently surprised investors with its guidance for 2023 when it said net charge-offs would move above pre-pandemic levels and exceed what Wall Street had expected. Investors were left questioning whether this was a sign that consumers were struggling and if it spelled trouble for the broader economy. Discover reported a solid fourth quarter, with net revenue up 27% year over year while diluted earnings per share grew 4%.
Economists may be on recession watch, but American Express CEO Stephen Squeri says he still isn't seeing spending trends that would suggest a downturn is in the cards.
HOUSTON, January 26, 2023--Bankers Helping Bankers, an online platform that promotes innovation among community banks, has named Discover® Financial Services’ PULSE® debit network its exclusive debit partner. The agreement builds upon PULSE’s longstanding support of community banks and the Independent Bankers Association of Texas (IBAT), which co-founded Bankers Helping Bankers in partnership with FedFis.