Synchrony Financial Notches Another Solid Quarter
When Synchrony Financial (NYSE: SYF) reported its third-quarter financial results before the markets opened on Friday, the company said that it had $0.91 in earnings per share (EPS) and $4.69 billion in revenue. Consensus estimates had called for $0.80 in EPS and revenue of $4.24 billion. In the same period of last year, Synchrony posted EPS of $0.70 on $3.88 billion in revenue.
During the most recent quarter, loan receivables grew $11 billion, or 14%, from the third quarter of 2017 to $88 billion. Also, purchase volume growth was 11% and average active account growth was 9%, primarily driven by the PayPal Credit program acquisition and growth.
At the same time, deposits grew to $62 billion, up $8 billion, or 14%, and comprised 72% of funding.
The estimated fully phased-in Common Equity Tier 1 ratio under Basel III was 14.2%, compared to 17.2% last year, reflecting the impact of capital deployment through the PayPal Credit program acquisition, growth and continued execution of the capital plan.
The company offered no guidance for the fourth quarter. However, consensus estimates call for $0.87 in EPS and $4.39 billion in revenue.
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- kredyty konsumenckie, finansowanie sprzedaży ratalnej, programy lojalnościowe, polisy. Spółka zależna od GE Capital.