Strong loan growth, broad fee momentum and a one-month contribution from BTIG helped lift earnings above the $1.28-a-share analyst estimate.
U.S. Bancorp reported record second-quarter revenue as strong loan growth, broad momentum in fees and a one-month boost from its recent acquisition of financial-services firm BTIG supported results. Net income rose to $2.18 billion, or $1.35 a share, from $1.82 billion, or $1.11 a share, a year earlier. The Minneapolis-based parent of U.S. Bank National Association also exceeded the $1.28 a share mean estimate from analysts polled by FactSet.