Net income was $1.36 billion for the fourth quarter, compared to $2.18 billion for the prior-year period. Diluted earnings per share was $0.41 for the fourth quarter, compared to $0.64 for the same period in 2006.
For the full-year period revenue was $39.39 billion, compared to $35.69 billion for the prior-year period. Net income was $8.06 billion for the full-year period, compared to $8.42 billion for the same period in the previous year. Diluted earnings per share was $2.38 for the full-year period, compared to $2.47 for the prior-year period.
John Stumpf, president and CEO, said: Despite the industry headwinds and challenging economic environment, our outstanding team members produced record revenue for both the fourth quarter and full year.
