Shares dropped 6.1% following the report, reflecting investor disappointment likely driven by cautious full-year credit outlook and persistent margin pressures despite stable top-line growth and credit performance.

• Revenue and receivables each grew 6% year-over-year, supported by growth in personal loans, auto finance (+14% receivables), and credit card receivables (+45%).
• Net charge-offs remained elevated but in line with expectations at 8.4% for C&I and 8% for consumer loans; first quarter losses are seasonally highest.
• Improvement in 30- to 89-day delinquencies year-over-year, reversing last quarter’s slight increase and beating pre-pandemic averages.
• Credit card business showed growth in receivables (+45%) and accounts (+40%), with improvements in yields, loss trends, and unit costs.
• Continued investments in AI and product innovation aim to drive customer engagement and operational efficiencies, but cautious tone on outlook and margin pressure likely weighed on sentiment.