Revision: 3Q Corporate Profits Rose $90.2 Billion, 9.8% Annually

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

Profits from current production — corporate profits with inventory valuation adjustment and capital consumption adjustment — rose $90.2 billion in the third quarter (3Q), compared with an increase of $14.4 billion in the second quarter (2Q).

Profits of domestic financial corporations increased $47.8 billion in the 3Q, in contrast to a decrease of $33.8 billion in the 2Q. Profits of domestic non-financial corporations increased $10.4 billion, compared with an increase of $59.1 billion.

Rest-of-the-world profits gained $32.0 billion juxtaposed to a decrease of $10.8 billion in the previous quarter.

In the 3Q, receipts increased $26.9 billion and payments gained $5.2 billion.

Meanwhile, gross domestic product in the 3Q was revised to 3.2% compared to the 3.0% gain in the first estimate and 3.3% in the second.