U.S. Bancorp beats Street 4Q forecasts

MINNEAPOLIS (AP) -- U.S. Bancorp (USB) on Wednesday reported fourth-quarter profit of $1.48 billion.

The Minneapolis-based bank said it had earnings of 82 cents per share.

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

The financial services holding company posted revenue of $5.81 billion in the period. Its adjusted revenue was $5.44 billion, which also beat Street forecasts. Six analysts surveyed by Zacks expected $5.35 billion.

For the year, the company reported profit of $5.89 billion, or $3.24 per share. Revenue was reported as $21.3 billion.

U.S. Bancorp shares have decreased 2 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed slightly more than 1 percent. The stock has risen 26 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on USB at https://www.zacks.com/ap/USB

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Keywords: U.S. Bancorp, Earnings Report