Synchrony Financial (NYSE:SYF) reported its Q1 results on Wednesday, with EPS of $1.35 coming in worse than the Street estimate of $1.49. Revenue was $3.2 billion, beating the Street estimate of $3.14 billion, driven by a growth provision that was a modest drag on EPS.
Analysts at RBC Capital view the quarterly results as solid with seasonally lower but decent loan trends, manageable credit, and controlled expenses.
The company raised the loan growth outlook, and overall guidance calls for more normalized operating fundamentals and credit as we move through the year.