US Bancorp Reports Fall In Q1 Profit, but beats estimates

(RTTNews) - US Bancorp (USB) revealed earnings for first quarter that decreased from last year but beat the Street estimates.

The company's bottom line totaled $1.47 billion, or $0.99 per share. This compares with $2.18 billion, or $1.45 per share, in last year's first quarter.

Analysts on average had expected the company to earn $0.94 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 2.4% to $5.60 billion from $5.47 billion last year.

US Bancorp earnings at a glance (GAAP) :

-Earnings (Q1): $1.47 Bln. vs. $2.18 Bln. last year. -EPS (Q1): $0.99 vs. $1.45 last year. -Analyst Estimates: $0.94 -Revenue (Q1): $5.60 Bln vs. $5.47 Bln last year.