US Bancorp Reports Increase In Q1 Bottom Line, but misses estimates

(RTTNews) - US Bancorp (USB) reported earnings for its first quarter that increased from last year but missed the Street estimates.

The company's earnings totaled $1.59 billion, or $1.04 per share. This compares with $1.47 billion, or $0.99 per share, in last year's first quarter.

Analysts on average had expected the company to earn $1.12 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 28.2% to $7.18 billion from $5.60 billion last year.

US Bancorp earnings at a glance (GAAP) :

-Earnings (Q1): $1.59 Bln. vs. $1.47 Bln. last year. -EPS (Q1): $1.04 vs. $0.99 last year. -Analyst Estimate: $1.12 -Revenue (Q1): $7.18 Bln vs. $5.60 Bln last year.