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Earnings Call 
 
Wachovia First Quarter Earnings Call
28th May 2008 00:00 AM
Despite strong performance across most segments, results were overwhelmed by credit costs and continued market disruption loses.
The financial services firm reported a loss of $350 million or 20 cents a share, down from a profit of $2.3 billion or $1.20 a share in 2007 as higher credit costs and disruptions in the market led to a 5% drop in revenues to $7.9 billion. Wachovia announced actions to enhance its capital base and operational flexibility, and updated its credit reserve modeling to reflect greater emphasis on forecasted changes in customer behavior assuming continued house price depreciation.
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Wachovia Fourth Quarter Earnings Call
27th January 2008 00:00 AM
Net income dropped to $51 million, or 3 cents a share, from $2.3 billion, or $1.20 a share, in 2006 on continued disruption in the capital markets.
The financial firm generated revenue of $7.2 billion on higher loan and deposit balances driven by organic growth, while fee and other income declined due to net market disruption-related valuation losses of $1.7 billion and reduced fee income from the disruption in the capital markets. The firm is now focused on the strategic priorities including controlling expenses, managing risk, creating revenue synergies, and continuing to provide industry-leading customer service.
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