Wachovia Reports Losses of $23.9 Billion for Quarter
Charleston Daily Mail › October 22, 2008
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Summary
NEW YORK - Wachovia Corp. today reported a staggering $24 billion loss as it took a goodwill impairment charge of nearly $19 billion ahead of its acquisition by Wells Fargo & Co.
The Charlotte, N.C.-based bank reported a net loss after paying preferred dividends of $23.89 billion, or $11.18 per share, in the period ended Sept. 30, compared with earnings of $1.62 billion, or 85 cents per share, a year earlier.See the full content of this document
Extract
Wachovia Reports Losses of $23.9 Billion for Quarter
Excluding goodwill impairment of $18.7 billion and merger- related and restructuring expense of $414 million, the bank lost $4.76 billion, or $2.23 per share.
Analysts polled by Thomson Reuters, on ave...See the full content of this document
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