Synchrony Financial announced its fourth-quarter 2024 results on January 28, 2025, reporting net income of $774 million, or $1.91 per diluted share. This compares to $440 million, or $1.03 per diluted share, in the prior year's fourth quarter.
Net interest income rose to $4.59 billion from $4.47 billion a year earlier, while the provision for credit losses decreased to $1.56 billion from $1.80 billion. However, the company's adjusted revenue of $4.59 billion fell short of Street forecasts, and purchase volume decreased by 3% in the quarter.
The net charge-off rate increased to 6.45% from 5.58% in the prior year. For the full year 2025, Synchrony Financial expects net revenue to be in the range of $15.2 billion to $15.7 billion, a decrease from approximately $16.13 billion in 2024, reflecting anticipated moderate consumer spending and dipping interest rates.
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