Discover Earnings to Be Reduced After Acquisitions, CFO Says

Discover Financial Services (DFS), the third-biggest U.S. payments network, said earnings per share will be reduced by several cents this quarter after the firm acquired some businesses in Europe.

Earnings will be reduced by “mid to high single-digit pennies per share” after the Riverwoods, Illinois-based company acquired the Diners Club franchise in Italy and a card-processing firm in Slovenia, Chief Financial Officer Mark Graf said today at a conference in New York hosted by Deutsche Bank.

“It’s going to be one-time in nature,” Graf said. “There’s no significant run-rate impacts going forward.”

To contact the reporter on this story: Donal Griffin in New York at dgriffin10@bloomberg.net

To contact the editor responsible for this story: David Scheer at dscheer@bloomberg.net

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.