After-Tax Corporate Profits Revised Higher In 2nd Quarter

At an annual rate of $1.860 trillion, after-tax corporate profits rose a revised year-on-year 0.3 percent in the second quarter. When including inventory valuation and consumption adjustments, after-tax profits of $2.083 trillion were up 3.8 percent on the year. Taxes on corporate income, at a $225.2 billion annual rate and which are calculated on this basis, rose 4.5 percent from a year ago.