COLUMBUS, Ohio (AP) — COLUMBUS, Ohio (AP) — Bread Financial Holdings, Inc. (BFH) on Thursday reported fourth-quarter net income of $43 million, after reporting a loss in the same period a year earlier.

The Columbus, Ohio-based company said it had profit of 87 cents per share. Earnings, adjusted to account for discontinued operations, were 90 cents per share.

The results exceeded Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for a loss of 73 cents per share.

The manager of loyalty and rewards programs for retailers and others posted revenue of $1.25 billion in the period. Its adjusted revenue was $1.02 billion, also topping Street forecasts. Six analysts surveyed by Zacks expected $987.1 million.

For the year, the company reported profit of $718 million, or $14.34 per share. Revenue was reported as $4.29 billion.

Bread Financial shares have dropped slightly more than 7% since the beginning of the year. The stock has fallen 25% in the last 12 months.

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