UPDATE: U.S. Bancorp Posts Higher Q4 Profit

U.S. Bancorp USB reported a 2.5% rise in its fourth-quarter earnings. U.S. Bancorp's quarterly profit surged to $1.46 billion, or $0.76 per share, from a year-ago profit of $1.42 billion, or $0.72 per share. Its revenue declined 4.4% to $4.89 billion. However, analysts were expecting earnings of $0.75 per share on revenue of $4.89 billion. U.S. Bancorp shares closed at $41.58 yesterday.