Corporate Profits Rise In 3rd Q

Corporate profits in the third quarter came in at $1.895 trillion, following $1.842 trillion for the second quarter. Profits in the third quarter rose an annualized 11.9 percent after a 27.1 percent gain in the first quarter. Profits are after tax but without inventory valuation and capital consumption adjustments. Corporate profits on a year-on-year basis were up 5.1 percent, compared to 4.6 percent the prior quarter.