US Q3 corporate profits up 2.1 pct vs revised 1.7 rise in Q2
WASHINGTON (AFX) - After-tax corporate profits rose 2.1 pct in the third quarter from the previous three months, the Commerce Department said.
This is the biggest gain in after-tax profits since Q2 2001. After-tax corporate profits have now risen three straight quarters, the first time this has happened since 1999.
In the second quarter, corporate profits rose 1.7 pct, unchanged from the previous estimate.
Corporate profits with inventory valuation and capital consumption adjustments -- the broadest measure of economic profit -- fell 1.8 pct, after dropping 1.6 pct in the second quarter.
Profits before tax rose 1.6 pct in the third quarter, compared with a 2.9 pct rise in the second quarter.
chris.anstey@afxnews.com
WASHINGTON (AFX) - After-tax corporate profits rose 2.1 pct in the third quarter from the previous three months, the Commerce Department said.
This is the biggest gain in after-tax profits since Q2 2001. After-tax corporate profits have now risen three straight quarters, the first time this has happened since 1999.
In the second quarter, corporate profits rose 1.7 pct, unchanged from the previous estimate.
Corporate profits with inventory valuation and capital consumption adjustments -- the broadest measure of economic profit -- fell 1.8 pct, after dropping 1.6 pct in the second quarter.
Profits before tax rose 1.6 pct in the third quarter, compared with a 2.9 pct rise in the second quarter.
chris.anstey@afxnews.com
