Huge oil profits skew earnings picture
By Matt Krantz, USA TODAY
The boom in U.S. corporate profits may not be as amazing as it seems.
While corporate earnings are in the midst of a record-breaking streak of double-digit growth, the historic profits reported by the energy industry thanks to the soaring price of oil are a big reason why.
Last year, for instance, earnings reported by companies in the Standard & Poor's 500 continued their double-digit streak of growth gaining 13.2%, S&P says. ExxonMobil alone posted the largest annual profit in U.S. corporate history of $36.1 billion.
But take out the contribution from energy companies, and that growth shrivels by a third to a less-impressive single-digit number of 8.9%.
( For complete story, Click here )
The boom in U.S. corporate profits may not be as amazing as it seems.
While corporate earnings are in the midst of a record-breaking streak of double-digit growth, the historic profits reported by the energy industry thanks to the soaring price of oil are a big reason why.
Last year, for instance, earnings reported by companies in the Standard & Poor's 500 continued their double-digit streak of growth gaining 13.2%, S&P says. ExxonMobil alone posted the largest annual profit in U.S. corporate history of $36.1 billion.
But take out the contribution from energy companies, and that growth shrivels by a third to a less-impressive single-digit number of 8.9%.
( For complete story, Click here )
posted by Oil Shock at 12:18 AM
0 Comments:
Post a Comment
<< Home