American corporations posted record profit margins in Q2 2026, with after-tax profits reaching 19.4% of gross value added, the highest level since the data series began in the 1940s. Total corporate profits hit $4,827 billion on a seasonally adjusted annual rate basis, up roughly 9% from $4,426 billion in Q1. S&P 500 blended earnings growth reached approximately 50% year-over-year. This surge is attributed more to margin expansion than volume growth, as real GDP grew at a modest 1.5% annualized rate.
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