America is making money again as corporate profits soar 16.1% compared to last year.
The Wall Street Journal’s Harriet Torry and Theo Francis report on the Trump administration’s economic achievements:
- The Commerce Department said Wednesday that after-tax profits across the U.S. rose 16.1% from a year earlier, the largest year-over-year gain in six years.
- Sales by S&P 500 companies grew 9.5% in the most recent quarter, the fastest rate since the autumn of 2011
- The Commerce Department revised upward its estimate of how fast the U.S. economy grew in the second quarter, to an annual rate of 4.2% from an earlier estimate of 4.1%.
- Per-share earnings for companies in the S&P 500 rose 24.8% over the second quarter of 2017, the second-fastest rate since late 2010 and trailing only this year’s first quarter
- Sales by S&P 500 companies grew 9.5% in the most recent quarter, the fastest rate since the autumn of 2011
