U.S. News

Washington Mutual Posts Higher Quarterly Profit


Washington Mutual, the largest U.S. savings and loan, said on Wednesday second-quarter profit rose, helped by growth in retail banking and credit cards, and a smaller loss relative to the first quarter in its mortgage unit.

Net income for the Seattle-based thrift rose to $830 million, or 92 cents per share, from $767 million, or 79 cents, a year earlier.

Shares were up more than 2% in after-hours trading.