TOKYO — Combined net profits at major companies worldwide slipped during the quarter ended in June, as a strong recovery among U.S. tech giants was unable to fully offset weakness in fields such as commodities and chemicals on China’s economic slowdown.
Announced or predicted net profits at around 11,000 listed companies in markets including the U.S., China, Japan and Europe fell 3% on the year to $955.7 billion, according to QUICK-FactSet. These businesses account for roughly 90% of total market capitalization.