U.S. Bancorp (USB) reported earnings on Wed 17 Jan 18 (b/o)

 

U.S. Bancorp beats by $0.10, reports revs in-line 

• Reports Q4 (Dec) earnings of $0.97 per share, $0.10 better than the Capital IQ Consensus of $0.87; revenues rose 3.7% year/year to $5.64 bln vs the $5.59 bln Capital IQ Consensus.
• The net interest margin in the fourth quarter of 2017 was 3.08 percent, compared with 2.98 percent in the fourth quarter of 2016, and 3.10 percent in the third quarter of 2017. Average total loans were $7.1 billion (2.6 percent) higher than the fourth quarter of 2016. The increase was due to growth in total commercial loans (4.0 percent), residential mortgages (5.2 percent), retail leasing (28.9 percent) and other retail loans (5.2 percent).
• Residential mortgages up 1% QoQ to $59.639 bln.