U.S. Bancorp (USB) reported that its first-quarter net income applicable to common shareholders increased to $1.36 billion or $0.73 per share, from $1.28 billion or $0.67 per share in the same quarter last year. Earnings for the first quarter of 2013 were driven by a year-over-year reduction in noninterest expense and a lower provision for credit losses.
Analysts polled by Thomson Reuters expected the company to report earnings of $0.73 per share for the quarter. Analysts' estimates typically exclude special items.
Total net revenues on taxable-equivalent basis, for the quarter declined to $4.87 billion from $4.93 billion in the prior year quarter, reflecting a 3.3 percent decrease in noninterest income, partially offset by a .7 percent increase in net interest income. Twenty one analysts had consensus revenue estimate of $5.03 billion for the quarter.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.