Profit, First Quarter Earnings | featured news

Bank of America has reported a sharp rise in profits after it shed costs and set aside less money for bad loans. The bank reported first quarter net income of $2.3bn (£1.5bn), after making $328m in the same quarter a year ago.

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.

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

Ford (F) swung to a profit for the first quarter today, earning $2. 1 billion ...

The bank, which is often considered a bellwether, said that it had clawed back to profitability in the first quarter, after two consecutive periods of losses.

JPMorgan Chase reported a $3.3 billion profit for the first quarter Wednesday, even as its results were tempered by ongoing losses in consumer loan portfolios.