Still Waiting for the Profit Rebound

BusinessWeek's flash profit survey takes a first look at the quarter's feeble earnings and dismal sales

Anyone thinking this was the quarter when Corporate America would shake off its slump is about to be sorely disappointed. Even with consumer-product and health-care companies boosting sales numbers by upping prices, overall revenues tumbled. For the 122 companies in BusinessWeek's flash profit survey, sales fell 6% from a year earlier. While preliminary, that's even worse than the 4% decline during the fourth quarter of 2001 -- itself an unprecedented drop.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.