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U.S. Bancorp said in its latest earnings report that consumers are continuing to boost their credit card loans – and though charge-offs have increased, credit quality has remained strong. Credit card loans in the quarter were $28 billion, adding more than 9% year over year, the parent company of U.S. Bank said Wednesday (April 17).
U.S. Bancorp is forecasting a decline in net interest income for this year. In announcing its earnings Wednesday (April 17), the lender said it anticipates net interest income (NII) of $16.1 billion to $16.4 billion, down from earlier projection of at least $16.6 billion for the year.
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U.S. Bancorp's (USB) Q1 earnings gain from a rise in fee income and lower expenses. However, a fall in NII and a rise in provisions act as headwinds.
U.S. Bancorp (USB) shares dipped Wednesday as the regional bank posted lower first-quarter revenue, increased its provision for credit losses, and cut its guidance.
While the top- and bottom-line numbers for U.S. Bancorp (USB) give a sense of how the business performed in the quarter ended March 2024, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.
U.S. Bancorp (USB) came out with quarterly earnings of $0.90 per share, beating the Zacks Consensus Estimate of $0.89 per share. This compares to earnings of $1.16 per share a year ago.
On April 17th, U.S. Bancorp reported its Q1 2024 financial results, before US markets opened this morning. The results exceeded analysts' expectations, but were still generally lackluster as compared with 2023.
Get a deeper insight into the potential performance of U.S. Bancorp (USB) for the quarter ended March 2024 by going beyond Wall Street's top -and-bottom-line estimates and examining the estimates for some of its key metrics.
U.S. Bancorp (USB) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.