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U.S. Bancorp Q1 Profit Tops Estimates - Quick Facts

U.S. Bancorp (USB) reported first quarter earnings per common share of $0.72 compared to $1.00, previous year. On average, 20 analysts polled by Thomson Reuters expected the company to report profit per share of $0.58, for the quarter. Analysts' estimates typically exclude special items. Net income attributable to U.S. Bancorp was $1.17 billion, 31.1 percent lower from prior year.

First-quarter total net revenue was $5.77 billion compared to $5.58 billion, prior year. Analysts expected revenue of $5.56 billion for the quarter. Net interest income on a taxable-equivalent basis was $3.25 billion, a decrease of 1.2 percent from previous year. Non-interest income was $2.53 billion, 10.2 percent higher from a year ago.

For the first quarter, average total loans grew 4.0% year-over-year. Average total deposits grew 8.2% from prior year.

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