U.S. Bancorp Q3 Profit Rises 10% as Revenue Growth Outpaces Costs
Photo: TokenPost
U.S. Bancorp's third-quarter profit rose 10% year over year as revenue growth outpaced expense increases, while BTIG's contribution helped lift capital markets revenue. Net income attributable to U.S. Bancorp was $2.202 billion for the quarter ended Sept. 30, up from $2.001 billion a year earlier. Diluted earnings per share climbed 9.8% to $1.34 from $1.22. Total net revenue reached $7.970 billion, an 8.7% increase from $7.329 billion. Excluding net securities gains and losses, revenue grew 9.5% to $8.035 billion, compared with $7.336 billion a year earlier. Noninterest expenses increased 7.1% to $4.493 billion from $4.197 billion.
Source: TokenPost
