Development vista of a largest American financial company

[img_assist|nid=8581|title=|desc=|link=none|align=left|width=100|height=50]A year ago Discover Financial Services became a public company and in spite of the fact that the stock performance has been miserable -- going from $31 to $13.57 the company keeps making money.

Last quarter Discover advised net income of $234 million, or $0.48 per share while the same period the year before the revenue amounted $209.2 million, or $0.44 per share.

The rise came from unloading Goldfish card division of the company (a UK credit card company).

Today Discover is dealing with a slowdown in the US economy. Fortunately there are firm and constant standards with the company and there is a good base of long-term customers which means more stability. Yet delinquencies and charge-offs are still increasing. Within the past 30 days overdue loans has gone from 2.71% to 3.54%.

At present time Discover operates its own processing network which means significant advantages for the company. This business may turn out very profitable as more and more consumers are resorting to credit cards or alternative e-payment methods. Lately Discover acquired Diner's Club International with its own processing network.