Profits: Battle of Behemoths

With corporate profits consistently and spectacularly on the rise for the last ten quarters, a seesaw, record-smashing battle of behemoths is going on. Last year General Motors reported earnings of $1.459 billion on sales of $14.6 billion, more than any corporation anywhere had ever earned in a single year. Last week, however, an old champion regained the crown. Reporting on the twelve months that ended Nov. 30, A.T. & T. Chairman Frederick R. Kappel informed his 2,250,000 shareholders that the telephone company and its sprawl of subsidiaries had net income of $1.522...

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!