US Bancorp has announced its fourth-quarter earnings, showcasing a notable increase from the previous year and surpassing Wall Street projections.
The company's earnings reached $1.581 billion, amounting to $1.01 per share, compared to $766 million, or $0.49 per share, in the fourth quarter of the preceding year.
After adjustments, US Bancorp's earnings stood at $1.662 billion, translating to $1.07 per share for this period.
On average, analysts, as reported by Thomson Reuters, had projected earnings of $1.05 per share, generally excluding one-time items from these estimates.
The company's quarterly revenue experienced a 3.7% rise, climbing to $7.009 billion from last year's $6.762 billion.
Here's a concise overview of US Bancorp's earnings based on generally accepted accounting principles (GAAP):
- Fourth-quarter earnings: $1.581 billion, up from last year's $766 million.
- Earnings per share (EPS) for Q4: $1.01, compared to $0.49 last year.
- Revenue for Q4: $7.009 billion, compared to $6.762 billion last year.
