Stocks
Tariff Refunds Spark Earnings Surge for Top U.S. Companies
Major U.S. companies are reaping the benefits of tariff refunds, which have significantly boosted their reported earnings.
The Wall Street Journal reports that Apple (AAPL) alone received nearly $2.2 billion in refunds, adding 11 cents per share to its most recent quarter's earnings, about 5% of the quarter's total.
Other big-name corporates enjoying refunds include Nike (NKE), which reported $986 million; FedEx (FDX), with $800 million; Amazon.com (AMZN) at $640 million; and General Motors Co. (GM) at $500 million.