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(AP) - Wells Fargo is reporting a record
first-quarter profit in line with its forecast.


      The San Francisco-based bank, which bought Wachovia last fall at
the height of the credit crisis, says it earned $2.38 billion, or
56 cents per share. This compares with a profit of $2 billion, or
60 cents per share, a year earlier.


      Before paying preferred dividends, the company earned $3.05
billion.


      Total revenue was $21 billion, slightly more than the bank had
forecast.


      Thomson Reuters says analysts were expecting earnings of 41
cents per share on revenue of $19.37 billion.


      Wells Fargo had surprised investors earlier this month when it
said it would report a record first-quarter profit of $3 billion,
much more than analysts had been expecting.

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