Published November 24, 2015 8:31am EST | Updated November 24, 2015 11:05am EST

Pretax Corporate Profits Drop 1.1% In Third Quarter

Adjusted pretax corporate profits fell at a 1.1% annual rate in the third quarter, government figures show. Adjusted profits dropped by an annualized $22.7 billion to mark the third decline in the past four quarters, the Commerce Department said Tuesday. Profit figures are adjusted for depreciation and the value of inventories.