NEW YORK (TheStreet) -- Discover Financial Services (DFS) - Get Report stock is rising by 2.02% to $53.61 in after-hours trading on Tuesday, following the release of the company's 2016 first quarter financial results.

After the market close, the payment services company reported adjusted earnings of $1.35 per share, beating analysts' estimates for $1.29 per share.

Revenue was $2.22 billion for the most recent period, higher than analysts' forecasts for $2.17 billion.

Both earnings and revenue increased year-over-year, up from earnings of $1.28 per share on revenue of $2.17 billion for the 2015 first quarter.

"We made progress on our priorities this quarter, most notably accelerating loan growth into our target range," CEO David Nelms said in a statement. "We continue to focus on generating strong returns while prudently managing credit and effectively deploying capital."

Separately, TheStreet Ratings team rates the stock as a "hold" with a ratings score of C+.

Discover Financial Services' strengths such as its revenue growth, growth in earnings per share and increase in net income are countered by weaknesses including generally higher debt management risk and a generally disappointing performance in the stock itself.

You can view the full analysis from the report here: DFS

TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this article's author.