More Earnings Reports To Be Released This Week
DAVID GREENE, HOST:
NPR's business news starts with some big bank profits.
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GREENE: Citigroup's profits soared in the last quarter. The nation's third largest bank said, in its latest quarterly earnings report, that profits rose 42 percent over last year. That's due, in part, to cost-cutting and the banks expansion overseas. Several other big banks report their latest earnings this week, including Goldman Sachs and Bank of America, and we will also hear from big technology companies like Intel and Microsoft.
RENEE MONTAGNE, HOST:
It will be especially interesting to see where Microsoft's earnings ended up last quarter. The company's first foray into computers - a tablet called the Surface - hasn't gotten much traction since it was first introduced last fall.
Yesterday, Microsoft cut the price on their tablet by as much as 30 percent. The entry model of the Surface had been priced at $500. It's now going for $350.