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.”
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