---
schema_version: "secwatch.filing_event.v1"
accession: "0001393612-24-000028"
form_type: "8-K"
ticker: null
cik: "0001393612"
company_name: "Discover Financial Services"
filed_at: "2024-04-17T23:59:59+00:00"
generated_at: "2026-06-03T21:35:40.619143+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# DFS Q1 net income $308M (-68% YoY); EPS $1.10; charge-off rate 4.92% up 220bps

## Summary
- Net income $308M vs $968M YoY; diluted EPS $1.10 vs $3.55; revenue $4.21B up 13%.
- Total loans $126.6B (+12% YoY); credit card loans $99.5B (+11%).
- Total net charge-off rate 4.92% (220bps YoY increase); credit card charge-off rate 5.66%.
- Provision for credit losses $1.5B (+36%); operating expenses up 67% driven by $799M card misclassification remediation reserve build.
- Board declared $0.70/share quarterly dividend payable June 6, 2024 to record May 23.

## SEC filing metadata
- accession: 0001393612-24-000028
- form_type: 8-K
- cik: 0001393612
- company_name: Discover Financial Services
- filed_at: 2024-04-17T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1393612/000139361224000028/0001393612-24-000028-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1393612/000139361224000028/dfs-20240417.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001393612-24-000028
- JSON: https://secwatch.observer/filing/0001393612-24-000028.json
- Plain text: https://secwatch.observer/filing/0001393612-24-000028.txt

## Key facts
- Earnings Releases
  Discover Financial Services reported the quarter ended March 31, 2024 results: revenue $4,210, net income $308 million, EPS $1.10 per diluted share.
  - Period: the quarter ended March 31, 2024
  - Revenue: $4,210
  - Net income: $308 million
  - EPS: $1.10 per diluted share
  - Result: reported results
  source text: PER SHARE First Quarter 2024 Results 2024 2023 (1) YOY Change Total loans, end of period (in billions) $126.6 $112.7 12% Total revenue net of interest expense (in millions) $4,210 $3,742 13% Total net charge-off rate 4.92% 2.72% 220 bps Net income/(loss) (in millions) $308 $968 (68%) Diluted EPS $1.10 $3.55 (69%) Note(s) 1. The comparative prior quarter
  evidence_url: https://www.sec.gov/Archives/edgar/data/1393612/000139361224000028/0001393612-24-000028-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.