Apple, Alphabet, and Other US Companies Soar... Global Listed Firms' Q3 Net Profit Up 50%

[Image source=Yonhap News]

[Asia Economy Reporter Lee Seon-ae] The net profits of major listed companies worldwide for the third quarter (July to September) of this year have surged compared to the same period last year. However, while U.S. companies showed significant growth, Chinese companies remained stagnant.

On the 14th, according to a survey by Nihon Keizai Shimbun (Nikkei) using the financial information service "Quick Fact Set," which compiled the third-quarter earnings and average market expectations of 15,105 listed companies worldwide as of the 12th, the total net profit reached $1.1349 trillion (approximately 1,338 trillion KRW), a 50% increase compared to the same period last year.

This marks the fourth consecutive quarter since the fourth quarter of last year (October to December) that net profit growth has continued compared to the pre-COVID-19 period of the same time last year.

The United States exceeded the global average with a 62% surge, accounting for 43% of the total net profits of the surveyed companies.

Among individual companies, Apple saw a 62% increase, and Alphabet, Google's parent company, surged 68%, showcasing a strong performance streak among large U.S. IT (Information Technology) companies with high profit margins.

In traditional industries, the rise in raw material prices led to major U.S. oil company ExxonMobil and steelmaker US Steel turning to large-scale profits, highlighting improved earnings in these sectors.

Thanks to the distribution of COVID-19 vaccines, U.S. companies overall posted favorable results, including in the entertainment, travel, and dining industries.

Outside the U.S., Europe and Japan also showed strong earnings during this period.

In Europe, profit growth centered on the resources and materials sectors reached 58%, and Japan, led by materials and shipping sectors, recorded a 46% increase.

However, the net profit growth rate of Chinese companies in the third quarter was around 1%, showing almost no change.

Nikkei analyzed that while Chinese companies were the only ones among major global regions to increase net profits in the third quarter of last year, the first year of the COVID-19 pandemic, this year the profit growth was restrained due to a combination of stricter government regulations and rising raw material prices.

This content was produced with the assistance of AI translation services.