U.S. Bancorp (USB) Revenue — Quarter Ended Mar 31, 2024
Revenue for the quarter decreased compared to both the immediately preceding quarter and the same quarter one year earlier. The decline reflects a continuation of the downward trend observed over recent quarters.
Key takeaway
Quarter ended Mar 31, 2024 · FY2024 Q1
Revenue for the quarter decreased compared to both the immediately preceding quarter and the same quarter one year earlier. The decline reflects a continuation of the downward trend observed over recent quarters.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$6.7B
Revenue reported for this quarter.
Quarter-over-quarter
-0.7%
Change from the immediately preceding quarter.
Year-over-year
-6.4%
Change from the comparable year-ago quarter.
Trailing four quarters
$27.7B
Sum of the latest four reported quarters.
Quarterly revenue trend
The latest four reported quarters with year-over-year comparisons.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Jun 30, 2023 | $7.2B | n/a |
| Sep 30, 2023 | $7B | +11.2% |
| Dec 31, 2023 | $6.8B | +6.2% |
| Mar 31, 2024 | $6.7B | -6.4% |
Revenue performance
The reported revenue was lower than the prior quarter's figure, marking a sequential decline.
Quarterly comparison
Compared to the same quarter last year, revenue also decreased, indicating a year-over-year contraction.
What to watch
Monitor whether the downward revenue trajectory stabilizes in the coming quarters.