NEW YORK (Reuters) - Washington Mutual Inc, the largest U.S. savings and loan, posted a $3.33 billion second-quarter loss on Tuesday as souring mortgages forced it to set aside more money for loan losses. The thrift’s deteriorating health prompted Moody’s Investors Service to say it may downgrade Washington Mutual to “junk” status. Shares of Washington Mutual fell in after-hours electronic trading. Washington Mutual said its third straight quarterly loss was $3.34 per share, more than triple the $1.09 per share loss that analysts on average expected according to Reuters Estimates. Year-ago profit was $830 million, or 92 cents per share. More

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Posted by markw, filed under Finance. Date: July 22, 2008, 8:46 pm |

One Response

  1. » Washington Mutual $3 billion loss Says:
    July 22nd, 2008 at 8:53 pm

    […] Read the rest of this great post here […]

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