Synchrony Financial delivered a first quarter of 2025 that showcased robust quarterly cash generation and a solid balance sheet, even as YoY profitability metrics reflect higher non-operating costs and a shift in revenue mix. Revenue for the quarter stood at $5.70 billion, down 15.3% year-over-year but up 15.9% quarter-over-quarter, underscoring seasonality and a rebound in activity from Q4 2024. Net income declined year over year to $757 million (EPS $1.91), driven in part by higher total other income and expenses and continued interest expense, while core operating performance improved with operating income of $1.88 billion and EBITDA of $3.99 billion. CEO commentary and management highlights from the quarter point to ongoing emphasis on diversification of the consumer finance portfolio, the CareCredit ecosystem, and private-label/co-brand programs as growth accelerants, even as the company remains mindful of credit cost dynamics in a slowing macro backdrop.