WEX Q1 Numbers are Astounding as U.S. Fleet Cards Take-Off

ME-based fuel card kingpin, WEX, reported first quarter (1Q/17) total revenue soared 41.5% year-on-year (YOY), and net income rose 25.4% YOY in 1Q/17. WEX says return on 2016 investments is paying-off handsomely, according to CardData. Total revenue was $291.4 million for 1Q/17, compared to $290.8 million in 4Q/16, and $205.9 million for 1Q/16. Net income…

Synchrony Q1 Charge-Offs Soar – Profits Up 10%+ YOY

Synchrony Financial’s retail credit card business revenues posted an 10.5% year-on-year (YOY) gain for the first quarter (1Q/17) to $2.89 billion, according to CardData. During the quarter Synchrony launched the Cathay Pacific program and Synchrony Car Care credit card. Furthermore, Synchrony acquired the Citi Health Card portfolio and GPShopper. Synchrony reported $2.88 billion in retail…