Washington Mutual said today its earnings for the second quarter jumped 73 percent, citing solid performance across all of the financial services company's business units and soundly beating Wall Street estimates.

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Washington Mutual said today its earnings for the second quarter jumped 73 percent, citing solid performance across all of the financial services company’s business units and soundly beating Wall Street estimates.


For the three months ended June 30, the company reported earnings of $844 million, or 95 cents a share, compared with $489 million, or 55 cents a share in the same period a year earlier.


Analysts polled by Thomson Financial were expecting earnings of 83 cents per share.


Revenue – a combination of net interest income and noninterest income – rose 18 percent to $3.2 billion, up from $2.7 billion in the second quarter of 2004.


Net income for the mortgage banking segment was $209 million, up from a net loss of $59 million a year ago. The retail banking and financial services segment posted net income of $579 million, a 20 percent increase from $483 million reported at this time last year.


Washington Mutual shares rose 73 cents to $41.73 a share in trading Tuesday on the New York Stock Exchange. The earnings were announced after the markets closed.


In the past 52 weeks, shares have traded between $37.51 and $42.97.