Synchrony Financial Analysts Boost Their Forecasts Following Upbeat Q3 Earnings

Synchrony Financial (NYSE:SYF) reported better-than-expected third-quarter financial results and raised its FY24 EPS guidance above estimates on Wednesday.

Synchrony Financial reported third-quarter net interest income of $4.609 billion, beating the consensus of $4.491 billion. Net interest income increased 5.7% YoY, driven by higher interest and fees on loans, partially offset by an increase in interest expense from higher benchmark rates and higher interest-bearing liabilities.

Net revenue rose 9.8% to $3.814 billion. Net interest margin declined 32 basis points to 15.04%. Net earnings increased 29% year over year to $789 million. The company reported EPS of $1.94, above the consensus of $1.81.

"The unique combination of Synchrony's industry expertise, proprietary data and analytics, and innovative digital capabilities is ...