— 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.
Most Popular
Nutanix reports narrower loss than expected in Q1
Nutanix (NASDAQ: NTNX) reported first-quarter 2021 financial results after the regular trading hours on Monday. The software firm reported Q1 revenue of $312.8 million, down 0.6% year-over-year, but higher than
Urban Outfitters (URBN) Q3 Earnings: Key financials and quarterly highlights
Urban Outfitters, Inc. (NASDAQ: URBN) reported third quarter 2021 earnings results today. Net sales decreased 1.8% year-over-year to $970 million. Net income was $77 million, or $0.78 per share, compared to
Earnings reports to watch for the week of Nov. 23
After starting the week on a positive note, major stock indexes witnessed volatility and slipped mid-week. Meanwhile, the S&P 500 index regained a part of the lost momentum and closed
2 thoughts on “U.S. Bancorp (NYSE: USB): Q4 2019 Earnings Snapshot”
Comments are closed.