Growth in corporate profits may not be as strong as it seems

Published August 11, 2022 7:10 AM

By STAN CHOE
AP Business Writer

NEW YORK (AP) — Wall Street’s big gains this summer have been spread widely across industries. The profit growth underpinning those gains? Not so much. While the energy sector has seen profits nearly quadruple amid sky-high prices for gasoline, overall earnings per share for the rest of the S&P 500 actually fell in the second quarter. That hasn’t stopped investors from bidding up prices on all stocks, not just the ones with strong profits.

Article Topic Follows: AP National Business

Jump to comments ↓

Associated Press

BE PART OF THE CONVERSATION

KVIA ABC 7 is committed to providing a forum for civil and constructive conversation.

Please keep your comments respectful and relevant. You can review our Community Guidelines by clicking here

If you would like to share a story idea, please submit it here.