U.S. Bancorp Q2 2024 Adj EPS $0.98 Beats $0.94 Estimate, Net Revenue $6.867B Beat $6.795B Estimate
Portfolio Pulse from Benzinga Newsdesk
U.S. Bancorp (NYSE:USB) reported Q2 2024 adjusted earnings per share (EPS) of $0.98, surpassing the analyst estimate of $0.94. The company also reported net revenue of $6.867 billion, exceeding the estimate of $6.795 billion. However, this represents a 3.84% decrease from the same period last year.
July 17, 2024 | 10:47 am
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U.S. Bancorp reported better-than-expected Q2 2024 earnings and revenue, with EPS of $0.98 beating the $0.94 estimate and net revenue of $6.867 billion surpassing the $6.795 billion estimate. Despite this, sales decreased by 3.84% year-over-year.
The better-than-expected EPS and revenue figures are likely to have a positive short-term impact on USB's stock price. However, the year-over-year decline in sales may temper some of the enthusiasm.
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