Discovery shares jump despite lower full-year earnings
30 August 2019 - 15:06
Shares in Discovery surged as much as 8.8% on Friday, more than any one-day gain since February 2018, even as the financial services firm said annual earnings fell as it invested in new business units, including its bank.
Discovery’s fledgling banking unit said in June it expected to add 1,000 clients a day by the end of August following the completion of an “early onboarding period”. For Discovery Bank to break even, about 500,000-600,000 clients are needed, according to the group...
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