Synchrony Financial (SYF) Tops Q1 EPS by 7c

Synchrony Financial (NYSE: SYF) reported Q1 EPS of $0.83, $0.07 better than the analyst estimate of $0.76. Revenue for the quarter came in at $3.84 billion versus the consensus estimate of $3.9 billion.

• Net interest income increased 7% from the first quarter of 2017 to $3.8 billion
• Loan receivables grew $5 billion, or 6%, from the first quarter of 2017 to $78 billion
• Purchase volume increased 3% from the first quarter of 2017 to $30 billion
• Deposits grew $5 billion, or 10%, from the first quarter of 2017 to $57 billion
• Added new partnerships: Crate and Barrel, jtv, and Mahindra
• Renewed relationships: Nationwide Marketing Group, Briggs & Stratton, and American Signature Furniture
• Expanded CareCredit network: American Veterinary Medical Association, American Med Spa Association, and Spa Industry Association
• Quarterly common stock dividend payment of $0.15 per share and repurchased $410 million of Synchrony Financial common stock

For earnings history and earnings-related data on Synchrony Financial (SYF) click here.

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