Profits of world’s leading corporations fall 6% for Jan-Mar

11:50 - 24.05.2024

May 24, Fineko/ The net profit of the world's leading private corporations decreased by 6% year-on-year in the 1st quarter of this year, ABC.AZ reports with reference to experts of Japanese economic newspaper Nikkei.

They studied the performance of about 24,600 of the largest private corporations, which account for more than 90% of the total share price of all companies on the planet. The net profit of these companies amounted to $1.11 trillion in the 1st quarter - 6% less than a year ago.

According to Nikkei experts, the reduction is largely linked with deterioration of the business environment in China, the second most powerful economic power on the planet after the U.S. According to Nikkei's calculations, Chinese corporations’ net profit dropped by about 10% in the 1st quarter. Especially noticeable was the decline in profits for banks, as well as for real estate companies.

The situation with the profits of the world's leading corporations, according to the newspaper's experts, may not improve in the 2nd quarter of this year.