U.S. Bancorp Meets Expectations, Reports $1.5B 3Q Profit

MINNEAPOLIS (AP) — U.S. Bancorp (USB) on Thursday reported third-quarter profit of $1.49 billion.

The bank, based in Minneapolis, said it had earnings of 81 cents per share.

The results matched Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was also for earnings of 81 cents per share.

The financial services holding company posted revenue of $5.09 billion in the period, which missed Street forecasts. Eight analysts surveyed by Zacks expected $5.12 billion.

U.S. Bancorp shares have decreased roughly 10 percent since the beginning of the year, while the Standard & Poor's 500 index has declined 3 percent. The stock has increased slightly more than 1 percent in the last 12 months.

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