U.S. Business: Profits: Not Good Enough

After all of the attention focused on the stock market and the possibility of a recession, first-half earnings reports by U.S. business seemed to add up to a happy surprise. Impressive second-quarter gains were reported last week by many companies, including Hertz, Raytheon, Pepsi-Cola and Eastman Kodak. In a survey of 934 corporations, the First National City Bank of New York found that earnings were 13% better in this year's second quarter than in last year's second quarter, with the food industry up 12%, paper 15%, aerospace 27%, railroads 32%, textiles and autos...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!