Credit Service Companies' Earnings Reflect Consumer Confidence and Economic Improvement - Research Report on Visa, American Express, Capital One, Discover, and CIT PR Newswire NEW YORK, July 30, 2013 NEW YORK, July 30, 2013 /PRNewswire/ -- Editor Note: For more information about this release, please scroll to bottom. Today, Investors' Reports announced new research reports highlighting Visa Inc. (NYSE: V), American Express Company (NYSE: AXP), Capital One Financial Corp. (NYSE: COF), Discover Financial Services (NYSE: DFS), and CIT Group Inc. (NYSE: CIT). Today's readers may access these reports free of charge - including full price targets, industry analysis and analyst ratings - via the links below. Visa Inc. Research Report On July 24, 2013, Visa Inc. (Visa) released its Q3 FY 2013 financial results (period ended June 30, 2013). Operating revenue was up 17% YoY to $3.0 billion. Operating income was $1.8 billion, compared to an operating loss of $2.6 billion in Q3 FY 2012. Net income attributable to the Company was $1.2 billion, compared to a net loss of $1.8 billion in Q3 FY 2012. Diluted EPS for Class A and C common stock was $1.88, compared to a diluted loss per share of $2.74 in Q3 FY 2012. Diluted EPS for Class B common stock was $0.79, compared to diluted loss per share of $1.16 in Q3 FY 2012. Commenting on the Results, Charlie Scharf, CEO of Visa, said, "Visa delivered solid financial performance during our fiscal third quarter and we remain confident in delivering our guidance for fiscal year 2013." Scharf continued, "We remain committed and focused on our long-term strategic goal of supporting our issuers, acquirers, merchants and government partners through flexibility and innovation in electronic payments. We are accelerating opportunities to expand our network through mobile, eCommerce and data-driven solutions, while continuing to deliver value to our shareholders." The Full Research Report on Visa Inc. - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.InvestorsReports.com/report/2013-07-25/V] American Express Company Research Report On July 17, 2013, American Express Company (American Express) released its Q2 2013 financial results. Total revenues net of interest expense were up 3.5% YoY to $8.2 billion. Net income was up 4.9% YoY to $1.4 billion. Diluted EPS attributable to common shareholders was up 10.4% YoY to $1.27. Kenneth I. Chenault, Chairman and CEO of American Express, stated, "We generated record bottom line results this quarter despite an uneven global economy." Chenault added, "We are well on track with the restructuring and related initiatives that we announced earlier this year. They are helping us contain expense growth and that, in turn, is giving us the flexibility to make substantial investments designed to grow the business and expand into newer segments of the market." The Full Research Report on American Express Company - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.InvestorsReports.com/report/2013-07-25/AXP] Capital One Financial Corp. Research Report On July 18, 2013, Capital One Financial Corp. (Capital One) released its Q2 2013 financial results. Total net revenue was up 11.5% YoY to $5.6 billion. Non-interest income was up 2.9% YoY to $1.1 billion. Net interest income was up 13.8% YoY to $4.6 billion. Net income available to common stockholders was $1.1 billion, compared with net income of $93 million. Richard D. Fairbank, Chairman and CEO of Capital One, commented, "We delivered solid performance across each of our businesses during the quarter, and we continue to generate significant capital. We will continue to tightly manage costs and credit quality, drive resilient growth in businesses we are emphasizing, and focus on returning capital to our investors to deliver sustained shareholder value." The Full Research Report on Capital One Financial Corp. - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.InvestorsReports.com/report/2013-07-25/COF] Discover Financial Services Research Report On July 23, 2013, Discover Financial Services (Discover) released its Q2 2013 financial results. Net interest income was up 8.8% YoY to $1.4 billion. Total other income was up 10.7% YoY to $611 million. Revenue net of interest expense was up 9.4% YoY to $2 billion. Net income was up 14.7% YoY to $602 million. Net income attributable to common stockholders was up 13.1% YoY to $588 million. Diluted EPS was up 21.2% YoY to $1.20. David Nelms, Chairman and CEO of Discover, stated, "Discover's strong overall results were driven by profitable growth in Direct Banking and continued improvement in credit offset to a small degree by a loss in Payment Services as we supported Diners franchises in Europe." The Full Research Report on Discover Financial Services - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.InvestorsReports.com/report/2013-07-25/DFS] CIT Group Inc. Research Report On July 23, 2013, CIT Group Inc. (CIT) released its Q2 2013 financial results. Total interest income was down 14.3% YoY to $351.6 million. Net interest revenue was $70.2 million, compared to a loss of $223.9 million in Q2 2012. Net income was $183.6 million, compared to a loss of $72.9 million in Q2 2012. Diluted EPS was $0.91, compared to a loss of $0.36 per share in Q2 2012. John Thain, Chairman and CEO of CIT, said, "Our financial results this quarter demonstrate the progress we have made in building our franchise and meeting our profitability targets." Thain added, "We grew CIT Bank assets and deposits and advanced our expense reduction initiatives as we continued to provide financing to our small business, middle market and transportation clients. The termination of the Written Agreement and our announced share repurchase plan were important milestones that enhance our ability to create value for our shareholders." The Full Research Report on CIT Group Inc. - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.InvestorsReports.com/report/2013-07-25/CIT] EDITOR NOTES: 1.This is not company news. 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Credit Service Companies' Earnings Reflect Consumer Confidence and Economic Improvement - Research Report on Visa, American
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