Scott Peters
18 Apr, 2022
New York City
Synchrony Financial said first quarter 2022 revenues increased 2.3% to $2.16 billion, net income 9% to $932 million, and diluted earnings per share rose 2.3% to $1.77 from a year ago. The company's Board approved a 5% increase in quarterly dividend to 23 cents a share from the third quarter and the incremental share repurchase of $2.8 billion. Average active accounts increased 6% to 70.1 million and new accounts rose 10% to 5.5 million. The credit card lender said purchase volume rose 17% to $40.5 billion and net interest margin increased 182 basis points to 15.8%.
