Canadian corporations earned $80.7 billion in operating profits in the third quarter, up 14.0% from the previous quarter. The increase was led by a $6.5 billion gain in profits in finance and insurance industries.

On a year-over-year basis, overall operating profits for Canadian corporations were down 1.1% compared with the third quarter of 2015.

In the non-financial industries, third quarter operating profits rose 6.6% to $54.6 billion on a $9.7 billion increase in operating revenues. Overall, profits were up in 11 of 17 non-financial industries.

Operating profits were up 27.1% to $12.7 billion in manufacturing. Operating profits rose in 9 of 13 manufacturing industries. Most of that growth came from petroleum and coal products manufacturing.

Petroleum and coal products manufacturing posted an operating profit of $1.2 billion in the third quarter, following an operating loss of $0.8 billion in the second quarter.