After-Tax Corporate Profits Up 1.7%

At an annual rate of $1.886 trillion, after-tax corporate profits rose a year-on-year 1.7 percent in the second quarter. When including inventory valuation and consumption adjustments, after-tax profits of $2.113 trillion were up 2.7 percent on the year. Taxes on corporate income, at a $229.7 billion annual rate and which are calculated on this basis, rose 3.1 percent from a year ago.