US Bancorp Reports Slight Rise In 3Q Profit

MINNEAPOLIS (AP) — U.S. Bancorp reported a slight rise in third-quarter profit Wednesday versus a year ago, meeting Wall Street expectations.

The Minneapolis-based bank posted net income of $1.471 billion, or 78 cents per share, in the quarter, compared with $1.468 billion, or 76 cents per share, in the same quarter a year ago.

Revenue rose 2 percent to $4.99 billion from $4.89 billion.

Both its per-share earnings and revenue met analysts' expectations, according to FactSet.

U.S. Bancorp shares are up nearly 6 percent from a year ago. They closed at $40.27 on Tuesday.

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