3 NJ companies rank among most profitable per second

Kimberly Redmond//January 18, 2023//

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No. 10 | Verizon Communications
Basking Ridge

Annual profit: $17.80 billion
Profit per second: $567
Profit per minute: $33,868
Profit per hour: $2.03 million
Profit per day: $48.77 million

No. 12 | Johnson & Johnson
New Brunswick

Annual profit: $14.71 billion
Profit per second: $467
Profit per minute: $27,995
Profit per hour: $1.68 million
Profit per day: $40.31 million

No. 33 | Merck & Co.
Rahway

Annual profit: $7.07 billion
Profit per second: $224
Profit per minute: $13,446
Profit per hour: $806,735
Profit per day: $19.36 million

When it comes to how much money the world’s biggest corporations make per second, three New Jersey-based businesses were among the most profitable, a recently released analysis found.

After examining annual profit figures for 50 of the best-known companies, fintech firm Tipalti ranked Verizon Communications in Basking Ridge as 10th, Johnson & Johnson in New Brunswick as 12th and Merck & Co. in Rahway as 33rd.

The list of 2021’s most profitable companies – which Tipalti said is sourced from Fortune 500 – includes a breakdown of how much money each corporation pulled in by the amount generated per second, hour and day to give a sense of how enormous the profits really are.

Tech giant Apple Inc. took the top spot, making $6.5 million per hour, which equates to $1,820 per second.

“To put that into context, the average annual salary in the U.S. is $74,738 in 2021, or $1,433.33 per week, meaning that Apple makes $387 (27.01%) more per second than the average American worker makes in a whole week,” Tipalti noted.

Overall, tech companies were found to make the most, averaging $185 per second, more than $11,000 per minute and over $16 million each day. They were followed by telecommunications companies ($107 profit per second) and financial companies ($85 per second), according to Tipalti.