U.S. Bancorp (NYSE:USB) recorded its third quarter earnings results on Wednesday 14th October 2020 before market open.
U.S. Bancorp recorded quarterly income of $ 0.99 per share, from the revenue of $ 5,964.00 million
The consensus estimate are $ 0.91 income per share from revenues of $ 5712.42 million.
The third quarter financial report outlined, earnings beat street analysts by $ 0.08 or 8.79 percent, where as revenues outshined analysts estimates by $ 251.58 million or 4.40 percent.
U.S. Bancorp projected third quarter earnings outlook in a range of per share, and revenues outlook between .
On the other hand, The quarterly earnings down 13.91 percent compared with the same quarter last year, at the same time revenues swell 0.74 percent versus third quarter of last year.
Andy Cecere, Chairman, President and CEO, said, Our results, during this challenging economic environment, are a testament to our diverse business mix and consistent approach to credit risk management. Consumer loan growth was robust, and our fee-based businesses performed well. Our mortgage banking business was particularly strong in the third quarter as we continued to support customers home financing and re-financing needs, and our payments businesses benefited from improving consumer spending activity as state and local economies continued to open.
