Shares of U.S. Bancorp (USB.US) are losing nearly 5.2% before the Wall Street open following the release of Q1 2024 results. Although key measures such as EPS and revenue came in roughly in line with expectations, forecasts for Q2 and full-year 2024 were revised downward.
US Bancorp's Q1 2024 results:
Start investing today or test a free demo
Open real account TRY DEMO Download mobile app Download mobile app- Adjusted EPS: $0.90 (estimated $0.87)
- Revenue: $6.72 billion (estimated $6.73 billion)
- Provision for credit losses: $553 million (estimated $498 million)
- Net interest income: $4.02 billion (estimate $4.04 billion)
The net interest income forecast for the year has been lowered. Source: bank report
Average total loans fell 0.5% and average total deposits rose 0.1% quarter-on-quarter. The efficiency measure deteriorated on a k/k basis; however, it performed slightly better on a y/y basis. Source: bank report
Pre-market trading indicates nearly 5.2% declines in the stock today.
Source: xStation
The material on this page does not constitute as financial advice and does not take into account your level of understanding, investment objectives, financial situation or any other particular needs.
All the information provided, including opinions, market research, mathematical results and technical analyses published on the website or transmitted to you by other means is provided for information purposes only and should in no event be interpreted as an offer of, or solicitation for, a transaction in any financial instrument, nor should the information provided be construed as advice of legal or fiscal nature.
Any investment decisions you make shall be based exclusively on your level of understanding, investment objectives, financial situation or any other particular needs. Any decision to act on information published on the website or transmitted to you by other means is entirely at your own risk. You are solely responsible for such decisions.
If you are in doubt or are not sure that you understand a particular product, instrument, service, or transaction, you should seek professional or legal advice before trading.
Investing in OTC Derivatives carries a high degree of risk, as they are leveraged based products and often small movements in the market could lead to much larger movements in the value of your investment and this could work against you or for you. Please ensure that you fully understand the risks involved, taking into account your investments objectives and level of experience, before trading, and if necessary, seek independent advice.