April 22, 2009 2:47 PM

Wells Fargo reports $2.4 billion first quarter profit

Wells Fargo & Co. reported this morning that it made $2.4 billion in the first quarter, a huge turnaround from the loss it suffered in the previous earnings period. Those earnings are measured after the bank paid $661 million in dividends on preferred shares, more than half of which went to the U.S. government.

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