U.S. Bancorp's profit per share topped forecasts, sales and its lending margin rose, and the Amazon card deal may add income.
The results point to more income from lending and faster sales growth. Amazon's card customers could add another source of income. Higher technology spending is the main concern. The report ties that spending to future growth, and the reported sales, margins, and credit quality support a favorable reading.
Amazon's card portfolio went to U.S. Bancorp, but this report gives no change in Amazon's sales or profit. It does not change how this story reads for Amazon.
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