U.S. Bancorp Stock Pops on Q2 Earnings Beat

U.S. Bancorp (USB) shares surged successful intraday trading Wednesday aft nan slope holding company’s second-quarter results hit analysts' expectations connected nan top and bottom lines.

The institution reported earnings per stock (EPS) of $0.97 connected gross of $6.87 billion, supra Visible Alpha statement estimates of $0.94 per stock successful profit connected gross of $6.79 billion. Net liking income (NII) was $4.02 billion, topping estimates of $3.96 billion. 

CEO Touts 'Improved Linked Quarter Net Interest Income'

“This 4th we generated $6.9 cardinal successful nett gross driven by improved linked 4th nett liking income, supported by patient deposit growth, and continued momentum successful leveraging our diversified interest income level to deepen relationships,” Chief Executive Officer (CEO) Andy Cecere said.

U.S. Bancorp shares, which had been fundamentally level for nan twelvemonth done Tuesday's close, traded astir 5% higher astatine $45.30 arsenic of 1:40 p.m. ET Wednesday.