WaMu and Intel
Intel, #1 chipster, beat the number and issued upbeat guidance as Q1 net income dropped 12% on increased revenue +9.3%.
Washington Mutual, #1 S&L missed bigtime, reporting a Q1 loss of $1.14 billion vs year-earlier net income of $784 million.
Revenue +3.4%; WaMu's provision for credit losses soared to $3.51 billion from $234 million a year earlier.
Net charge-offs, loans it doesn't think are collectable, rose to $1.37 billion from $737 million a year earlier.
Non-performing assets rose to 2.87% of total assets from 1.02%.
Washington Mutual, #1 S&L missed bigtime, reporting a Q1 loss of $1.14 billion vs year-earlier net income of $784 million.
Revenue +3.4%; WaMu's provision for credit losses soared to $3.51 billion from $234 million a year earlier.
Net charge-offs, loans it doesn't think are collectable, rose to $1.37 billion from $737 million a year earlier.
Non-performing assets rose to 2.87% of total assets from 1.02%.
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