First Quarter Earnings | featured news

Citigroup Inc reported a higher-than-expected 31 percent rise in first-quarter profit on Monday as it drew down loss reserves for mortgage loans, and revenue from its securities and investment banking business swelled.

Retail sales contracted in March for the second time in three months, a sign the American economy may have stumbled at the end of the first quarter.

Delta Air Lines' president said the carrier this year expects to achieve its first first-quarter profit since 2000.

Hewlett-Packard Co.'s first-quarter earnings declined 16% as the technology giant continued to see weaker sales in its core personal computer business, though adjusted profits beat the company's expectations.

JPMorgan Chase on Thursday formally revised its first-quarter financial results to show a lower profit, after deciding that traders at its main investment arm had overstated the value of certain derivatives.

Microsoft said Thursday that an accounting adjustment to reflect a weak online ad business led to its first quarterly loss in its 26 years as a public company. The software company had warned that it was taking a $6.2 billion charge because its 2007 purchase of online ad service aQuantive hasn't yielded the returns envisioned by management. The non-cash adjustment is something companies do when the value of their assets decline. Microsoft Corp. paid $6.3 billion for aQuantive, only to see rival Google Inc. expand its share of the online ad market.

Research in Motion unexpectedly announced on Thursday that a new line of phones that it still hopes will revive its BlackBerry brand will be delayed until next year... Research in Motion, the company behind BlackBerry phones, also reported at $518 million loss for the first quarter.

An advertising industry group says revenue from Internet advertising in the U.S. hit $8.4 billion in the first three months of the year. That's the highest for the first quarter, up 15 percent from $7.3 billion in the same period last year.

The U.S. banking industry posted a $35.3-billion profit in the first quarter of the year, its best performance since 2007, the Federal Deposit Insurance Corp. said Thursday.

posted first quarter sales and earnings that fell short of expectations Tuesday, as stronger sales to small and medium businesses during fiscal first quarter weren't enough to offset slumping sales to consumers, big businesses, and government agencies. shares fell 10.34% in after-hours trading.