US Bancorp Q3 Profit Increases, Beats Estimates

(RTTNews) - US Bancorp (USB) released earnings for its third quarter that increased from the same period last year and beat the Street estimates.

The company's bottom line totaled $1.601 billion, or $1.03 per share. This compares with $1.412 billion, or $0.91 per share, in last year's third quarter.

Excluding items, US Bancorp reported adjusted earnings of $1.601 billion or $1.03 per share for the period.

Analysts on average had expected the company to earn $0.99 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 2.4% to $6.864 billion from $7.032 billion last year.

US Bancorp earnings at a glance (GAAP) :

-Earnings (Q3): $1.601 Bln. vs. $1.412 Bln. last year. -EPS (Q3): $1.03 vs. $0.91 last year. -Revenue (Q3): $6.864 Bln vs. $7.032 Bln last year.