Still Flying With A Full Tank

Earnings leaped 17% in the second quarter: Five quarters in a row of double-digit gains

Don't talk about soft landings to corporate executives. What they want is a way to stay aloft. And after a year of raising interest rates, the Federal Reserve's strategy to tamp down any hint of inflationary growth seems to be working just fine. Earnings for the 900 companies on BUSINESS WEEK's Corporate Scorecard rose a robust 17% in the second quarter, on a 16% increase in sales. Although second- quarter earnings slowed from the torrid pace of the previous four quarters, they still marked the fifth straight quarter of double-digit gains.

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