10-K/A - Discover Financial Services (0001393612) (Filer)

Fri, Mar 7, 9:29 PM (44 days ago)

Discover Financial Services (DFS) filed Amendment No. 1 to its 2024 Annual Report on Form 10-K/A, primarily to include previously omitted information required by SEC regulations. As of December 31, 2024, DFS reported a net income of $4,535,000, with total revenue of approximately $5,074,000, reflecting a decrease from $5,613,000 in 2023, influenced by a change in credit loss allowances. The company’s operating expenses increased to $1,539,000 in tax expenses, impacting overall profitability. Earnings per share were not explicitly stated but can be inferred from net income figures. Strategically, DFS is navigating a merger with Capital One Financial Corporation (COF), which has necessitated modifications in executive compensation structures for retention purposes during the merger transition. Key risk factors include regulatory compliance and market competition, particularly in the credit card sector. The financial condition remains stable, with a market value of approximately $32.8 billion as of mid-2025, indicating a solid market position despite the challenges posed by the merger. The amendment does not alter previously reported financial data but ensures compliance with SEC requirements, enhancing transparency for stakeholders.