Reply #60: Wells Fargo expects $3 billion in earnings

[Demeter]

(Reuters) – Wells Fargo & Co (WFC.N) on Thursday said it expected approximately $3 billion in first quarter earnings.

Highlights:

* Expects record first quarter earnings of approximately $3 billion

* Sees Q1 2009 earnings per share about $0.55 including items

* Says expected results include total revenue of $20 billion

* Says wachovia acquisition exceeding expectations

* Sees qtrly combined net charge-offs of $3.3 billion

* Rpt-wells fargo & co (wfc.n) sees q1 shr about $0.55/shr after preferred

dividends

* Says tce ratio expected to increase in Q1

* Says tce expected to be above 3.1 percent of tangible assets at March 31,

2009

* Says reconfirming $5 billion of expected annual merger-related expense

savings

http://news.yahoo.com/s/nm/20090409/bs_nm/us_wellsfargo_1


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