Better-than-expected, First Quarter Earnings | featured news

Toymaker Hasbro sees its results beat market expectations, despite seeing its losses widen as it continues cost-cutting efforts.

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.

Blockbuster iPhone sales helped Apple Inc. blow past Wall Street's expectations with a 90 percent leap in net income for the most recent quarter. Shares of the company skyrocketed to an all-time high in extended trading Tuesday.

Apple said it sold a record 8.8 million of its popular iPhone smart phones in the three months that ended March 27, more than double the number sold a year ago. Revenue from the phones made up 40 percent of Apple's total revenue. The previous high was 8.7 million phones sold in the October-December quarter last year.