Discover Financial Services reported earnings results for the fourth quarter ended December 31, 2014. For the quarter, the company reported interest income of $1,974 million compared to $1,842 million a year ago. Net interest income was $1,672 million compared to $1,569 million a year ago. Income before income taxes was $648 million compared to $937 million a year ago. Net income allocated to common stockholders was of $392 million or $0.87 per diluted share compared to $588 million or $1.23 per diluted share a year ago. Book value per share was $24.79 compared to $22.89 a year ago. Excluding non-recurring items, fourth quarter 2014 adjusted net income was $553 million, or $1.19 of adjusted diluted earnings per share. ROE was over 20%.

The company provided revenue margin guidance for the full year of 2015. The company expects revenue margin to decline modestly from 12.9% this year.

For the fourth quarter, the net charge-offs was $355 million, increased by $51 million, driven primarily by loan growth and, to a lesser degree, lower dollar recoveries on aged charge-offs.