Discover Financial Services (DFS) CEO Roger Hochschild on Q2 2022 Results - Earnings Call Transcript

Discover Financial Services (NYSE:DFS) Q2 2022 Earnings Conference Call July 21, 2022 8:00 AM ET

Company Participants

Eric Wasserstrom - Head, Investor Relations

Roger Hochschild - Chief Executive Officer

John Greene - Chief Financial Officer

Conference Call Participants

Moshe Orenbuch - Credit Suisse

Bill Carcache - Wolfe Research

Sanjay Sakhrani - KBW

Rick Shane - JPMorgan

Ryan Nash - Goldman Sachs

Mark DeVries - Barclays

John Pancari - Evercore ISI

Betsy Graseck - Morgan Stanley

Meng Jiao - Deutsche Bank

Kevin Barker - Piper Sandler

Mihir Bhatia - Bank of America

Dominick Gabriele - Oppenheimer

Bob Napoli - William Blair

Don Fandetti - Wells Fargo

Arren Cyganovich - Citi

Operator

Good morning. My name is Katie and I will be your conference operator today. At this time, I would like to welcome everyone to the second quarter 2022 Discover Financial Services Earnings Conference Call. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question-and-answer session. [Operator Instructions]

Thank you. I would now turn the call over to Mr. Eric Wasserstrom, Head of Investor Relations. Please go ahead.

Eric Wasserstrom

Thank you, Katie, and welcome, everyone, to this morning's call. I'll begin on slide two of our earnings presentation, which you can find in the financial section of our Investor Relations website, investorrelations.discover.com.

Our discussion today contains certain forward-looking statements that are subject to risks and uncertainties that may cause actual results to differ materially. Please refer to our notices regarding forward-looking statements that appear in our second quarter earnings press release and presentation.

Our call today will include remarks from our CEO, Roger Hochschild; and John Greene, our Chief Financial Officer. After we conclude our formal comments, there will be time for a question-and-answer session. During the Q&A session, you'll be permitted to ask one question followed by one follow-up question. After a follow-up question, please return to the queue.

Now, it's my pleasure to turn the call over to Roger.

Roger Hochschild

Thanks Eric and thanks to our listeners for joining today's call. I'm very pleased with our results this quarter. We generated robust revenue growth and strong earnings, while advancing several strategic initiatives. This solid performance reflects the strength of our integrated digital banking and payments model and our focus on managing the business, while investing for growth amidst an increasingly fluid macroeconomic backdrop.