U.S. Bancorp (NYSE:USB) shares are trading higher after it reported second-quarter FY24 results. Revenue stood at $6.867 billion (-4.3% Y/Y), beating the consensus of $6.795 billion. Net interest income (taxable-equivalent basis) fell 8.9% Y/Y to $4.05 billion owing to the impact of higher interest rates on deposit mix and pricing. The net interest margin decreased to 2.67% in the second quarter of 2024 from 2.90% in the year-ago quarter. Meanwhile, non-interest income rose 3.3% Y/Y to $2.8 billion, aided by higher fee revenue across most categories. Adjusted earnings per share totaled $0.98, beating the consensus of $0.94. The provision for credit losses for the second ...