U.S. Bancorp 2Q profit rises 1.6%

The Associated PressJuly 16, 2014 

— U.S. Bancorp (USB) on Wednesday reported earnings that rose by 1.6% in its second quarter, and beat analysts' expectations.

The Minneapolis-based bank reported net income after dividends on preferred stock of $1.43 billion, or 78 cents per share, compared with $1.41 billion, or 76 cents per share, in the same quarter a year ago. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 77 cents per share.

The bank said revenue climbed 4.9% to $5.19 billion from $4.95 billion in the same quarter a year ago, beating Wall Street forecasts. Analysts expected $4.93 billion, according to Zacks.

U.S. Bancorp's shares have risen $2.90, or 7.2%, to $43.30 since the beginning of the year, while the Standard & Poor's 500 index has climbed 6.8%. The stock has increased $6.03, or 16%, in the last 12 months.

The Fresno Bee is pleased to provide this opportunity to share information, experiences and observations about what's in the news. Some of the comments may be reprinted elsewhere in the site or in the newspaper. We encourage lively, open debate on the issues of the day, and ask that you refrain from profanity, hate speech, personal comments and remarks that are off point. Thank you for taking the time to offer your thoughts.

Commenting FAQs | Terms of Service