U.S. Bancorp (USB) reported Q1 earnings Wednesday of $1.03 per diluted share, up from $0.78 a year earlier.

Analysts polled by FactSet expected $0.98.

Revenue for the quarter ended March 31, expressed as the sum of net interest income and noninterest income, was $6.93 billion, up from $6.69 billion a year earlier.

Analysts' revenue estimates were not readily available for comparison.

Shares of the lender were up 1.5% in recent premarket activity.