US Bancorp Q2 Income Retreats, misses estimates

(RTTNews) - US Bancorp (USB) released a profit for second quarter that decreased from the same period last year and missed the Street estimates.

The company's earnings came in at $1.46 billion, or $0.99 per share. This compares with $1.91 billion, or $1.28 per share, in last year's second quarter.

Analysts on average had expected the company to earn $1.08 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 4.0% to $6.01 billion from $5.78 billion last year.

US Bancorp earnings at a glance (GAAP) :

-Earnings (Q2): $1.46 Bln. vs. $1.91 Bln. last year. -EPS (Q2): $0.99 vs. $1.28 last year. -Analyst Estimates: $1.08 -Revenue (Q2): $6.01 Bln vs. $5.78 Bln last year.