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Earnings Analysis: 
Credit Suisse and Itau Post Higher Full-Year Net
Author: 123jump.com Staff
123jump.com
Last Update: 12:43 PM EST February 12 2008



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Brazilian bank Itaú attributed the 58% jump in quarterly net profits to one-time gains and higher lending. Net profits totaled 2.03 billion reais ($1.15 billion) in the quarter versus 1.28 billion reais a year ago. The Swiss bank and financial services company Credit Suisse posted quarterly net revenue decline of 13% from a year ago, while net revenue for the year increased 6% to 40.9 billion francs ($37.2 billion).

 
Marsh & McLennan (MMC: chart), insurance company, reported that fourth quarter ended December 2007 net revenue increased 8.1% to $2.93 billion from $2.71 billion in the prior-year quarter. Net earnings were $85 million or 16 cents per share compared to net earnings $226 million or 40 cents per share, for last year.

Credit Suisse (CS: chart), Swiss bank and financial services company, reported net revenue for the quarter was 9.4 billion francs ($8.5 billion), down 13% from the 10.8 billion francs in the same period of 2006.

Net revenue for the year increased 6% to 40.9 billion francs ($37.2 billion) from 38.6 billion francs the previous year. Net income fourth-quarter 2007 declined to 1.32 billion Swiss francs ($1.2 billion), or 1.21 francs a share.

For the full year, net income was 8.5 billion francs ($7.7 billion), down 25 % from 11.3 billion francs in 2006.

Teradata Corporation (TDC: chart) said revenue surged 10% in the fourth quarter of 2007 to $1.702 billion, from $1.547 billion in 2006. Net income in the quarter was $79 million, or $0.43 per diluted share, compared to $62 million, or $0.34 per diluted share, in the fourth quarter of 2006.

Banco Itau Holding Financeira S.A. (ITU: chart), Brazilian private bank, reported earnings in the fourth quarter net income increased to $1.13 billion. The company posted net profit of 2.03 billion, from 1.28 billion in the same period in 2006.
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