US Bancorp Q4 Profit Increases, Beats Estimates

(RTTNews) - US Bancorp (USB) released earnings for its fourth quarter that increased from last year and beat the Street estimates.

The company's earnings totaled $1.581 billion, or $1.01 per share. This compares with $766 million, or $0.49 per share, in last year's fourth quarter.

Excluding items, US Bancorp reported adjusted earnings of $1.662 billion or $1.07 per share for the period.

Analysts on average had expected the company to earn $1.05 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 3.7% to $7.009 billion from $6.762 billion last year.

US Bancorp earnings at a glance (GAAP) :

-Earnings (Q4): $1.581 Bln. vs. $766 Mln. last year. -EPS (Q4): $1.01 vs. $0.49 last year. -Revenue (Q4): $7.009 Bln vs. $6.762 Bln last year.