U.S. Bancorp Q1 Results Top Estimates

RTTNews | 285 days ago
Stocktwits
U.S. Bancorp Q1 Results Top Estimates

(RTTNews) - U.S. Bancorp (USB) reported Wednesday that net income attributable to U.S. Bancorp for the first quarter declined to $1.32 billion or $0.78 per share from $1.70 billion or $1.04 per share in the prior-year quarter.

Excluding items, adjusted net income for the quarter was $1.52 billion or $0.90 per share, compared to $1.88 billion or $1.16 per share in the year-ago quarter.

Total net revenue for the quarter decreased 6.4 percent to $6.72 billion, including $4.02 billion of net interest income and $2.70 billion of noninterest income, from $7.18 billion, including $4.67 billion of net interest income and $2.51 billion of noninterest income, in the same quarter last year.

On average, analysts polled by Thomson Reuters expected the company to report earnings of $0.88 per share on revenue of $6.71 billion for the quarter. Analysts' estimates typically exclude certain special items.

Provision for credit losses for the quarter was $553 million, up from $427 last year.

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com

Tags: USB
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U.S. Bancorp Q2 Results Top Estimates

U.S. Bancorp Q2 Results Top Estimates

U.S. Bancorp (USB) reported Wednesday that net income attributable to U.S. Bancorp common shareholders for the second quarter increased to $1.52 billion or $0.97 per share from $1.28 billion or $0.84 per share in the prior-year quarter.
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German Business Confidence Improves In January

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