RIVERWOODS, Ill. (AP) _ Discover Financial Services (DFS) on Wednesday reported second-quarter net income of $1.7 billion, after reporting a loss in the same period a year earlier.

The Riverwoods, Illinois-based company said it had net income of $5.55 per share.

The results exceeded Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $3.68 per share.

The credit card issuer and lender posted revenue of $3.87 billion in the period. Its adjusted revenue was $3.58 billion, also topping Street forecasts. Seven analysts surveyed by Zacks expected $2.87 billion.

Discover shares have risen 39% since the beginning of the year, while the S&P's 500 index has risen 16%. In the final minutes of trading on Wednesday, shares hit $125.55, more than doubling in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on DFS at https://www.zacks.com/ap/DFS

Copyright by Automated Insights, Inc. All rights reserved., source Associated Press News