Discover 1Q profit drops but beats Wall Street estimate

April 21, 2015 9:18 PM

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RIVERWOODS, Ill. (AP) — Discover Financial Services said Tuesday that its profit fell 7 percent in the first three months of the year, as the credit card issuer and lender increased its reserves against potential loan losses and booked higher expenses.

Even so, the Riverwoods, Illinois company's earnings beat Wall Street expectations.

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