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UPDATE: U.S. Bancorp Posts Higher Q4 Profit

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U.S. Bancorp (NYSE: 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.

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