U.S. Bancorp Q3 Earnings: EPS Beat, Revenue Miss, Rising Credit Loss Provisions & More

U.S. Bancorp (NYSE:USB) shares are trading higher on Wednesday.

The company reported third-quarter adjusted earnings per share of $1.03, beating the analyst consensus estimate of 99 cents.

Quarterly revenues of $6.864 billion missed the analyst consensus estimate of $6.895 billion.

The third quarter included $119 million of net losses on investment securities sales ($89 million net-of-tax), which was largely offset by lower income tax expenses, which reflected certain tax settlements.

“Our expense levels decreased year-over-year which supported modest positive operating leverage, ...