U.S. Bancorp (NYSE: USB) reported Q1 EPS of $0.96, $0.01 better than the analyst estimate of $0.95. Revenue for the quarter came in at $5.47 billion versus the consensus estimate of $5.53 billion.

1Q18 Highlights

• Net income of $1,675 million and diluted earnings per common share of $0.96 in the first quarter of 2018
• Industry leading return on average assets of 1.50% and return on average common equity of 14.9%
• Returned 68% of 1Q earnings to shareholders through dividends and share buybacks
• Net interest income grew 5.5% year-over-year
• Total net revenue grew 3.4% year-over year
  • Payment services revenue grew 6.5%
  • Trust and investment management fees increased 8.2%
  • Deposit service charges increased 5.8%
• Net interest margin of 3.13% was 7 basis points higher than 1Q17 and 2 basis points higher than 4Q17 (4 basis points excluding the impact of tax reform)
• Average total loans grew 2.3% year-over-year

For earnings history and earnings-related data on U.S. Bancorp (USB) click here.