Do the Fortune 500's falling profits mean recession? - News Summed Up

Do the Fortune 500's falling profits mean recession?


The Fortune 500 brought in more revenue last year than ever before in history—$18.1 trillion, up from $16.1 trillion in 2021 (and more than the GDP of China.) Energy companies topped the list, benefitting from the swing in oil prices. PBF Energy saw its profits jump 1145%, while Valero Energy had a 1140% increase. And you can play around more with all the great data behind the Fortune 500 list here. “And actually, most—even Republicans—would tell you that.” Centene jumped almost 278 places in the Fortune 500 list over the past decade, placing this year at rank 25 with $145 billion in revenue.


Source: Forbes June 12, 2023 19:19 UTC



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