U.S. Bancorp Q3 Profit Beats Estimates – Quick Facts

U.S. Bancorp (USB) reported third quarter earnings per share of $ 0.99, compared to $ 1.15, a year ago. On average, 22 analysts polled by Thomson Reuters expected the company to report profit per share of $ 0.91, for the quarter. Analysts’ estimates typically exclude special items. The company said the decline in net income year-over-year was primarily due to lower net interest income as well as increases in expenses and the provision for credit losses driven by higher net charge-offs and the acquisition of the State Farm credit card portfolio in the third quarter of 2020, partially offset by an increase in noninterest income.
RTT – Earnings