Wells Fargo & Co. announced today that in part because of the strength of its mortgage business, it plans to report a $3 billion net income for the first three months of 2009.
The company's net income comes out to $.55 per share, including $372 million to the government as repayment for its Capital Purchase Program investment.
Wells Fargo's revenue is projected to be $20 billion, a 16% increase over the previous quarter.
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