U.S. Corporate Profits Rise Modest 3.9%
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WASHINGTON — U.S. corporations reported a moderate 3.9% increase in after-tax profits in the July-September quarter, down from a robust 8.9% increase in the second quarter, the government said today.
The Commerce Department said third-quarter profits rose $6.4 billion to a seasonally adjusted annual level of $169.1 billion.
The 3.9% increase is a substantial upward revision from a preliminary estimate last month, which showed profits for the quarter advancing only 0.2%.
Corporate cash flows, a measure intended to show the funds corporations have available for investment, rose 0.8% in the third quarter, following a 1.4% rise in the April-June period.
Corporate profits before taxes rose 2.6% in the third quarter to $313.9 billion, after a 6.9% increase in the previous three-month period.
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