US Bancorp Q4 Profit Decreases, but beats estimates

(RTTNews) - US Bancorp (USB) announced earnings for fourth quarter that decreased from the same period last year but beat the Street estimates.

The company's bottom line totaled $766 million, or $0.49 per share. This compares with $853 million, or $0.57 per share, in last year's fourth quarter.

Excluding items, US Bancorp reported adjusted earnings of $1.54 billion or $0.99 per share for the period.

Analysts on average had expected the company to earn $0.98 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 6.1% to $6.76 billion from $6.37 billion last year.

US Bancorp earnings at a glance (GAAP) :

-Earnings (Q4): $766 Mln. vs. $853 Mln. last year. -EPS (Q4): $0.49 vs. $0.57 last year. -Analyst Estimates: $0.98 -Revenue (Q4): $6.76 Bln vs. $6.37 Bln last year.