S&P profits soar as companies pass inflation on to customers
By STAN CHOE
AP Business Writer
NEW YORK (AP) — Higher inflation hasn’t dented Corporate America’s profit bonanza — so far. Companies are charging more for everything from diapers to auto parts, more than offsetting their higher costs. Their resulting record-high profit margins are a key reason the latest round of earnings reports have blown past Wall Street’s expectations. That in turn is helping to keep stocks at records despite worries that valuations are too high and that the delta variant could hurt the economy.
