U.S. Bancorp Q1 Results Top Estimates

RTTNews | vor 30 Tagen
U.S. Bancorp Q1 Results Top Estimates

(RTTNews) - U.S. Bancorp (USB) reported Wednesday that net income attributable to U.S. Bancorp for the first quarter declined to $1.32 billion or $0.78 per share from $1.70 billion or $1.04 per share in the prior-year quarter.

Excluding items, adjusted net income for the quarter was $1.52 billion or $0.90 per share, compared to $1.88 billion or $1.16 per share in the year-ago quarter.

Total net revenue for the quarter decreased 6.4 percent to $6.72 billion, including $4.02 billion of net interest income and $2.70 billion of noninterest income, from $7.18 billion, including $4.67 billion of net interest income and $2.51 billion of noninterest income, in the same quarter last year.

On average, analysts polled by Thomson Reuters expected the company to report earnings of $0.88 per share on revenue of $6.71 billion for the quarter. Analysts' estimates typically exclude certain special items.

Provision for credit losses for the quarter was $553 million, up from $427 last year.

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com

read more
U.S. Bancorp, Mitsubishi UFJ Financial Agree To Extend Purchase Agreement

U.S. Bancorp, Mitsubishi UFJ Financial Agree To Extend Purchase Agreement

U.S. Bancorp (USB) and Mitsubishi UFJ Financial Group or MUFG (MTU) on Friday have mutually agreed to exercise their right under the purchase agreement for U.S. Bank's acquisition of MUFG Union Bank's core regional banking franchise to extend the outside termination date to December 31, 2022 from September 30, 2022.
RTTNews | vor 609 Tagen
Swiss Market Ends On Firm Note Again

Swiss Market Ends On Firm Note Again

Swiss stocks turned in a fine performance on Friday, extending gains from the previous session, as some encouraging earnings updates and possibility of another rate cut from the Swiss National Bank helped underpin sentiment.
RTTNews | vor 5Std 53 Minuten
Major European Markets Close Weak On Interest Rate Concerns

Major European Markets Close Weak On Interest Rate Concerns

The major European stocks closed lower on Friday, drifting down for a second straight session, on concerns the Federal Reserve will likely keep interest rates higher for a longer time. Some disappointing earnings updates hurt as well.
RTTNews | vor 6Std 7 Minuten
U.S. Dollar Lower On Rate Cut Expectations

U.S. Dollar Lower On Rate Cut Expectations

The U.S. dollar declined against its major counterparts in the New York session on Friday on growing expectations that the U.S. Federal Reserve could start cutting interest rates as early as September.
RTTNews | vor 6Std 8 Minuten
U.S. Leading Economic Index Decreases More Than Expected In April

U.S. Leading Economic Index Decreases More Than Expected In April

Suggesting softer economic conditions lay ahead, the Conference Board released a report on Friday showing a continued decrease by its reading on leading U.S. economic indicators in the month of April. The Conference Board said its leading economic index fell by 0.6 percent in April after dipping by 0.3 percent in March. Economists had expected the index to decrease by another 0.3 percent.
RTTNews | vor 9Std 20 Minuten
Elon Musk Says Twitter's Official Rebranding As X Complete

Elon Musk Says Twitter's Official Rebranding As X Complete

Billionaire Elon Musk announced that his social media platform, formerly known as Twitter, has completed its rebranding as X. In a post on his social media account, Musk said, "All core systems are now on http://X.com." At the bottom of the X login page, a message reads as "We are letting you know that we are changing our URL, but your privacy and data protection settings remain the same."
RTTNews | vor 9Std 23 Minuten