Discover Earnings Post 33% Profit Drop, Shares Fall (DFS)

Discover Financial Services said third-quarter profit dropped 33% drop as write-offs climbed and the firm set aside more money to cover future loan losses. The shares fell the most in more than two months.

Net income totaled $683 million, or $2.59 a share, the Riverwoods, Illinois-based credit-card lender said Wednesday in a statementBloomberg Terminal. That missed the $3.17 average estimate of analysts surveyed by Bloomberg.

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