Widget Image
Follow PPD Social Media
Connect With PPD
Friday, September 20, 2019
HomeNewsCompaniesBEA: 2Q Corporate Profits Rose $14.4 Billion, 7.4% Annually

BEA: 2Q Corporate Profits Rose $14.4 Billion, 7.4% Annually

Pedestrians walk through the Canary Wharf financial district of London January 16, 2009. (Photo: Reuters)
Pedestrians walk through the Canary Wharf financial district of London January 16, 2009. (Photo: Reuters)

Pedestrians walk through the Canary Wharf financial district of London January 16, 2009. (Photo: Reuters)

The Bureau of Economic Analysis (BEA) said corporate profits at an annualized rate of $1.77 trillion have increased by 7.4% since 2Q 2016.

Profits from current production–or, corporate profits with inventory valuation adjustment and capital consumption adjustment–increased $14.4 billion in the second quarter (2Q). That stands in contrast to the decrease of $46.2 billion in the first quarter (1Q).

Profits of domestic financial corporations decreased $33.8 billion in the second quarter, compared with a decrease of $40.7 billion in the first. Profits of domestic nonfinancial corporations increased $59.1 billion, compared with an increase of $3.8 billion.

Rest-of-the-world profits decreased $10.8 billion, compared with a decrease of $9.3 billion. In the second quarter, receipts increased $5.5 billion, and
payments increased $16.3 billion.

The report on corporate profits comes on the same day BEA revealed gross domestic product (GDP) came in above 3% for the first time in over 2 years and the U.S. trade gap in goods shrunk far more than expected.

Written by
Staff Writing Group

PPD Business, the economy-reporting arm of People's Pundit Daily, is "making sense of current events." We are a no-holds barred, news reporting pundit of, by, and for the people.

No comments

leave a comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.