Overview

• U.S. Bancorp reported Q2 earnings per share of $0.97 on $6.87 billion in revenue, surpassing estimates.
• Shares rose nearly 5% following the earnings report.
• Net income increased 18% year-over-year to $1.62 billion, driven by reduced operating expenses.
• Net interest income reached $4.02 billion, though higher deposit costs impacted profitability.
• Nonperforming assets increased to $1.85 billion, while net charge-offs were down 17% from the previous year.