Santander Consumer USA Holdings Q3 Profit Surges - Quick Facts

(RTTNews) - Santander Consumer USA Holdings Inc. (SC) Tuesday reported an increase in its third-quarter earnings to $191.4 million or $0.54 per share from $111.2 million or $0.32 per share a year ago.

On average, 16 analysts polled by Thomson Reuters expected earnings of $0.60 per share for the quarter. Analysts' estimates typically exclude special items.

Net finance and other interest income improved 24 percent to $1.1 billion from $901 million last year, driven by a 30 percent year-over-year growth in the average portfolio.

Total finance and other interest income rose to $1.44 billion from $1.06 billion last year.

Analysts expected revenue of $1.39 billion.

The provision for credit losses increased to $770 million from $598 million in the third quarter of 2013.