NEW YORK (Reuters) - Discover Financial Services reported quarterly profit of $260.6 million, or 47 cents per share, on Monday, as credit quality improved and consumers spent more on their credit cards.
The credit card lender and transaction processing network said its profit fell 55 percent from $577.4 million, or $1.07 per share, a year earlier.
The year-earlier results included an after-tax gain of $287 million related to an antitrust settlement with Visa
Discover shares closed at $15.57 on Friday, but rose about 4 percent in premarket trading on Monday.
(Reporting by Maria Aspan, editing by Dave Zimmerman)
