US Bancorp Q3 Profit Decreases, but beats estimates

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

The company's earnings came in at $1.41 billion, or $0.91 per share. This compares with $1.72 billion, or $1.16 per share, in last year's third quarter.

Excluding items, US Bancorp reported adjusted earnings of $1.62 billion or $1.05 per share for the period.

Analysts on average had expected the company to earn $1.02 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 11.1% to $7.03 billion from $6.33 billion last year.

US Bancorp earnings at a glance (GAAP) :

-Earnings (Q3): $1.41 Bln. vs. $1.72 Bln. last year. -EPS (Q3): $0.91 vs. $1.16 last year. -Analyst Estimates: $1.02 -Revenue (Q3): $7.03 Bln vs. $6.33 Bln last year.