UPDATE: U.S. Bancorp Reports 57% Surge In Q2 Profit

U.S. Bancorp USB reported a 57% rise in its second-quarter profit. U.S. Bancorp reported its quarterly profit at $1.2 billion, or $0.60 per share, up from $766 million, or $0.45 per share, in the year-ago period. Its net revenue rose 3.8% to $4.69 billion. Analysts were expecting a profit of $0.53 per share on revenue of $4.55 billion. USB shares closed at $25.03 yesterday.