— U.S. Bancorp (NYSE: USB) reported its fourth-quarter 2019 earnings of $0.90 per share versus $1.08 per share expected.
— The results included restructuring charges including severance and certain asset impairments, and increased derivative liability related to Visa shares, from their initial public offering, previously sold by the company.
— Total net revenue declined by 2.8% to $5.67 billion versus $5.78 billion expected.
— Net interest income decreased by 2.9% mainly a result of the impact of the yield curve and deposit and funding mix, partially offset by higher yields on reinvestment of securities in addition to loan growth.
— Non-interest income declined by 2.5% due to lower commercial business sales volumes and a charge for increased derivative liability related to Visa shares previously sold by the company.
— Average total loans increased by 3.9% due to growth in residential mortgages, total commercial loans, credit card loans, and other retail loans.
— Average total deposits grew by 6.6% backed by wealth management and investment services, corporate and commercial banking and consumer and business banking.
Micron Technology Inc. (NASDAQ: MU) reported third quarter 2022 earnings results today. Revenue increased 16% year-over-year to $8.64 billion. GAAP net income was $2.63 billion, or $2.34 per share, compared
Shares of Constellation Brands Inc. (NYSE: STZ) were down 4% on Thursday despite the company beating expectations on its first quarter 2023 earnings results. The stock has dropped 7% year-to-date.
Constellation Brands, Inc. (NYSE: STZ) reported first quarter 2023 earnings results today. Net sales increased 17% year-over-year to $2.3 billion. Net income attributable to CBI was $390 million, or $2.06