Discover Financial Services Shares Up 9% Despite Q2 Miss & Buyback Suspension
<p><a href='https://financialmodelingprep.com/financial-summary/DFS'>Discover Financial Services (NYSE:DFS)</a> shares were trading around 9% lower Thursday morning despite the company’s reported strong Q2 results, with EPS of $3.96 and revenue of $3.22 billion coming in better than the Street estimates of $3.76 and $3.18 billion, respectively. </p>
<p>According to the analysts at Oppenheimer, the unchained guidance likely took some investors by surprise given the continued ramp in expectations of rate increases. The company expects further funding pressure combined with promotional balances to weigh on NIM (Net interest margin) upside.</p>
<p>The company also announced that it suspended its buyback until further notice due to an internal investigation of its student loan services practices and related compliance matters.</p>

NYSE:DFS