Q3 Corporate Profits Up $39 Billion
Dec 20th 2013 11:35AM
Updated Dec 20th 2013 11:36AM
Third-quarter-adjusted corporate profits increased $39.2 billion (1.9%) quarter over quarter, according to the Commerce Department's third and final estimate (link opens as PDF) released today. After increasing a revised 3.3% in Q2, this latest report marks the second straight quarter of growth following Q1's 1.3% dip.
Corporate taxes remained relatively steady, dropping $400 million compared to Q2, when they increased $10 billion. Dividends dropped off $179 billion, but that's due in large part to Q2's irregular $273.5 billion increase driven by Fannie Mae's distributions to the federal government.
After-tax unadjusted profits increased 2.6% for the quarter and 5.6% year over year. At an industry level, financial corporate profits bumped up $9.7 billion quarter over quarter after a $24.5 billion in Q2. Nonfinancial corporate profit growth also eased, with profits up just $12.7 billion following Q2's $37.8 billion increase.
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