Discover Financial Reported a Marginal Rise in Total Other Expenses
In 2Q17, Discover Financial Services (DFS) reported a marginal rise of 1% in its total other expenses compared to 2Q16. In 2Q17, the company incurred total other expenses of $912.0 million compared to $906.0 million in 2Q16.
This marginal increase was mostly due to increased employee compensation expenses in 2Q17 compared to 2Q16. In 2Q17, the company reported employee compensation expenses of $367.0 million compared to $340.0 million in 2Q16, reflecting an increase of 8%.
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Discover Financial Services (DFS) reported an increase in its professional fees in 2Q17 compared to 2Q16. In 2Q17, Discover incurred professional fees of $156.0 million and in 2Q16, the company incurred professional fees of $150.0 million for a marginal increase of 4%.
However, DFS saw a substantial decline in its Information Processing & Communications segment’s expenses in 2Q17 compared to 2Q16. In 2Q17, Discover reported Information Processing & Communications expenses of $77.0 million compared to $89.0 million in 2Q16, reflecting a 13% decline.
Discover Financial reported Marketing and Business Development expenses of $192.0 million in 2Q17 compared to $198.0 million in 2Q16, reflecting a marginal decline of 3%.
Revenue per share
- Ally Financial (ALLY): $12.67
- PNC Financial Services Group (PNC): $31.40
- Regions Financial (RF): $4.45
In the next article of this series, we’ll learn why Discover Financial Services’ net income has decreased.