11:12 AM EDT, 07/17/2025 (MT Newswires) -- US Bancorp ( USB ) reported higher-than-expected second-quarter earnings on Thursday as revenue rose year on year, while the lender now sees full-year revenue growth at the low end of its guidance.

Per-share earnings rose to $1.11 for the June quarter from $0.97 a year earlier and surpassed the FactSet-polled consensus of $1.07. Net revenue grew 2% year on year to $7 billion.

Net interest income increased to $4.08 billion on taxable-equivalent basis from $4.05 billion in the year-earlier quarter. Noninterest income gained 3.9%.

For 2025, the bank expects adjusted revenue growth to be at the lower end of the previously-disclosed guidance of 3% to 5%, Chief Financial Officer John Stern said at an earnings call, according to a FactSet transcript.

Net interest margin eased to to 2.66% in the second quarter from 2.67% a year ago, below the 2.72% consensus view. Net interest margin fell six basis points sequentially.

US Bancorp's ( USB ) shares were down 2.2% intraday, taking its year-to-date decline to 6.6%.

For the third quarter, the bank anticipates net interest income of $4.1 billion to $4.2 billion on a fully taxable-equivalent basis, Stern told analysts.

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