Energy

US corporate giants’ income, revenue rise in 3rd qtr.

Total net income and revenue of major American companies increased in the third quarter of this year, according to data compiled by Anadolu Agency on Tuesday.

The 20 companies, operating in the U.S.' financial, technology and energy sectors, saw their total net income rise by 22.6 percent to $64.57 billion in the third quarter of 2017, from $52.66 billion during the same period of 2016.

Their total revenue increased by 12.4 percent to $418.85 billion in the third quarter of this year, from $372.56 billion in the same period a year ago.

The total revenue of six U.S. energy giants — ExxonMobil, Chevron, ConocoPhillips, Halliburton, Schlumberger, and Kinder Morgan — rose 14.1 percent to $131.55 billion in the third quarter.

The six companies had a total revenue of $115.27 billion in the July-September period of last year.

While these firms had a total net income of $2.95 billion in the third quarter of 2016, this amount climbed to $7.85 billion in the same period of 2017, marking a 166 percent increase.

Out of the six energy companies, Chevron showed the largest rate of increase in income and revenue year-over-year. The company's net income jumped by 52.3 percent, while its revenue increased 20.3 percent from the third quarter of 2016 to the same period of 2017.

ExxonMobil posted the biggest net income and revenue amount in the July-September period this year. The company had a net income of $3.97 billion, and revenue of $66.16 billion in the third quarter of this year.

– US financial banking firms post gains

American financial banking giants' total net income and revenue also increased in the third quarter, according to data compiled by Anadolu Agency.

Total net income of JP Morgan Chase, Citigroup, Wells Fargo, Bank of America, Goldman Sachs and Morgan Stanley rose 2.5 percent to $24.91 billion in the third quarter of this year, from $24.29 billion during the same period a year ago.

Their total revenue increased 1.3 percent to $105.63 billion, from $104.27 billion, during that period.

Out of the six global financial banking giants, Morgan Stanley had the biggest rate of increase in net income and revenue. The bank saw its net income rise by 11.2 percent, and revenue by 3.4 percent, year-over-year.

It was JPMorgan Chase, however, that had the biggest net income and revenue in the July-September period in 2017. The bank had a net income of $6.7 billion, and revenue of $26.2 billion in the third quarter of 2017.

– Apple shows biggest revenue among tech firms

The American technology firms' total net income and revenue also increased year-over-year.

Total net income of Apple, IBM, Netflix, Twitter, Microsoft, Amazon, Facebook, and Alphabet rose 25.1 percent to $31.81 billion in the third quarter of the year, from $25.42 billion a year ago.

Total revenue of those eight firms rose from $153.02 billion in the third quarter of 2016 to $181.67 billion in the third quarter of this year — an 18.7 percent increase.

Facebook showed the largest rate of increase in revenue during that period. The social network giant saw its net income rise by 47 percent. Netflix showed the largest rate of increase in net income, jumping 150 percent year-over-year.

Apple saw the biggest net income and revenue amount in the July-September period. The tech giant, and still the world's most valuable company by market capitalization, posted $10.71 billion in net income and $52.58 billion in revenue in the third quarter.

The firm also saw its market value hit $900 billion last Friday, to become the first company in history to reach that level.

Among the 20 major American corporations, Apple came out on top with the highest net income in the third quarter with $10.71 billion, while ExxonMobil ranked the first for the highest revenue with $66.16 billion in the July-September period of 2017.

By Ovunc Kutlu in New York

Anadolu Agency

ovunc.kutlu@aa.com.tr

 

 

 


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