A Well Oiled Profit MachineLori Bongiorno
Corporate America's tireless profit machine continued to chug along in the first quarter. Powered by a combination of strong economic growth and lower operating costs, earnings for the 900 companies on BUSINESS WEEK's Corporate Scoreboard rose a robust 30% in the first quarter. That's slower than the phenomenal 71% advance posted in the previous quarter, but still nearly double the 16% growth rate of a year ago. "It's the Energizer Bunny recovery," says John Ryding, senior economist at Bear, Stearns & Co. "It just keeps on going and going."
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