Credit Suisse reports 2Q earnings

On July 24, Credit Suisse reported earnings of $1.16 billion (1.22 billion CHF) for the second quarter of 2008, down 62% from the same period in 2007. Despite the sharp decline, Credit Suisse beat consensus analyst estimates and improved from its net loss of 2.1 billion CHF. Write downs for the quarter were an "immaterial" $21.3 million (22 million CHF), compared to $5. billion in the first quarter of 2008.

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