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Synchrony Financial (SYF) Q2 Earnings Top Estimates, Rise Y/Y
Synchrony Financial’s SYF second-quarter 2019 earnings per share of 97 cents beat the Zacks Consensus Estimate by 1%. The bottom line also improved 5.4% year over year on the back of higher net interest income and the PayPal Credit Program purchase. This excludes the impact of Walmart portfolio.
Results in Detail
The company’s net interest income increased 11% to $4.2 billion in the second quarter, primarily owing to the PayPal Credit program acquisition and loan receivables growth.
However, other income rose 42.9% to $90 million.
In the quarter under review, loan receivables inched up 4% year over year to $81.8 billion.
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![[Bild: SYFc1dl0731.png]](https://finviz.com/publish/072019/SYFc1dl0731.png)
Synchrony Financial’s SYF second-quarter 2019 earnings per share of 97 cents beat the Zacks Consensus Estimate by 1%. The bottom line also improved 5.4% year over year on the back of higher net interest income and the PayPal Credit Program purchase. This excludes the impact of Walmart portfolio.
Results in Detail
The company’s net interest income increased 11% to $4.2 billion in the second quarter, primarily owing to the PayPal Credit program acquisition and loan receivables growth.
However, other income rose 42.9% to $90 million.
In the quarter under review, loan receivables inched up 4% year over year to $81.8 billion.
...
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