STAMFORD, Conn. – Synchrony Financial (NYSE: SYF) reported Q3 earnings above analyst expectations, resulting in a 1.88% increase in shares during early trading on Wednesday.
The company earned $1.94 per share for the quarter ended September 30, 2024, beating the expected $1.80 by $0.14, which pleased investors.
However, total deposits of $82.28 billion fell short of the $83.69 billion forecast. Despite this, the strong earnings performance was the focus.
“Our third quarter results show the strength of our business model,” said CEO Brian Doubles. “We’re continuing to execute our strategy while managing risks effectively.”
Synchrony Financial provides consumer financial products across various sectors like retail and healthcare. While they surpassed earnings expectations, the shortfall in deposits may require attention in upcoming quarters.
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