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Archive Home > 2008 > June > 27 > Discover’s profit rises on higher card use

Discover’s profit rises on higher card use


June 27, 2008

NEW YORK — Discover posted a healthier quarterly profit Thursday than Wall Street expected — no thanks to the lending business, however.

The card company benefited between March and May not from issuing credit, but rather from milking its third-party payments business....

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Published daily in Bend, Oregon, by Western Communications, Inc. Copyright 2007.