![Synchrony Financial [SYF] reports annual net loss of $2.2 billion](/_next/image?url=https%3A%2F%2F10kinfo-appdata.s3.us-west-2.amazonaws.com%2Fedgar0105%2FCompanyLogos%2FUS%2FSYF.png&w=3840&q=75)
Synchrony Financial [SYF] reports annual net loss of $2.2 billion
Company Reports Revenue of $20.7 billion
Synchrony Financial [SYF] has reported a net loss of $2.2 billion for year ended Dec 31, 2023.
The Company said in a filing before the Securities and Exchange Commission that its total revenue for the year was $20.7 billion
Based in STAMFORD, Connecticut, Synchrony Financial operates in the FINANCE sector.
In the annual report for the 12 months ended on December 31, 2023, there were significant changes in the financial performance compared to the same period in 2022 and 2021.
Interest income recorded a notable increase over the years, reaching $20.71 billion in 2023 compared to $17.15 billion and $15.27 billion in 2022 and 2021, respectively. On the other hand, interest expense also rose to $3.71 billion in 2023 from $1.52 billion in 2022 and $1.03 billion in 2021. As a result, the net interest income climbed to $17 billion in 2023 from $15.63 billion in 2022 and $14.24 billion in 2021.
