Entrepreneurs

These Are The Ten Most Profitable Companies In New York


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This story originally appeared on ValueWalk

New York is among the top five states in the U.S. in terms of GDP size. The state, which is home to many of the world’s largest corporations, is seen as a hub for banking, finance, and communication. Moreover, New York also has a large manufacturing sector, including printing and publishing, garments and more. If you want to know more about this financial powerhouse, then detailed below are the ten most profitable companies in New York.

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Ten Most Profitable Companies In New York

We have used the latest available profit figures to rank the ten most profitable companies in New York. Following are the ten most profitable companies in New York:

  1. Philip Morris International ($7,185 million)

Founded in 1847, it is a holding company that deals in cigarettes, tobacco and nicotine-containing products. It has more than 71,000 employees, and is headed by Jacek Olczak. Philip Morris’ shares are up more than 31% in the last one-year, and YTD, they are up over 16%. It is headquartered in New York City.

  1. PepsiCo ($7,314 million)

Founded in 1965, it is among the biggest beverage companies in the world. This company owns several popular brands, including Pepsi-Cola, Frito-Lay, Gatorade, Tropicana and more. It has more than 290,000 employees, and is headed by Ramon L. Laguarta. PepsiCo’s shares are up more than 10% in the last one-year, and YTD, they are down over 1%. It is headquartered in Purchase.

  1. Mastercard ($8,118)

Founded in 1966, it is among the biggest payment facilitators in the world. This company offers payment solutions by connecting consumers, financial institutions, merchants, governments and businesses. It has more than 21,000 employees, and is headed by Michael Miebach. Mastercard’s shares are up more than 19% in the last one-year, and YTD, they are up over 1%. It is headquartered in Purchase.

  1. Goldman Sachs Group ($8,466 million)

Founded in 1869, it is a financial services company that deals in investment banking, securities and investment management. It has more than 40,000 employees, and is headed by David M. Solomon. Goldman Sachs’ shares are up more than 83% in the last one-year, and YTD, they are up over 40%. It is headquartered in New York City.

  1. Morgan Stanley ($9,042 million)

Founded in 1924, it is a global financial services company that offers investment banking products and services. The bank is now focusing more on acquiring younger, more tech-savvy clientele. It has more than 68,000 employees, and is headed by James P. Gorman. Morgan Stanley’s shares are up more than 100% in the last one-year, and YTD, they are up over 30%. It is headquartered in New York City.

  1. IBM ($9,431 million)

Founded in 1911, this company offers integrated solutions based on information technology and business processes. IBM operates through Global Business Services, Global Financing, Cloud & Cognitive Software Services and Global Technology Services segments. It has more than 364,000 employees, and is headed by Arvind Krishna. IBM’s shares are up more than 15% in the last one-year, and YTD, they are up over 14%. It is headquartered in Armonk.

  1. Pfizer ($16,273 million)

Founded in 1849, this company specializes in medicines, vaccines, and consumer healthcare. Pfizer operates through two segments – Pfizer Essential Health (EH) and Pfizer Innovative Health (IH). It has more than 78,000 employees, and is headed by Albert Bourla. Pfizer’s shares are up more than 6% in the last one-year, and YTD, they are up over 5%. It is headquartered in New York City.

  1. Verizon Communications ($19,265 million)

Founded in 1983, this company offers communications, information, and entertainment products and services. Unlike the rivals who diversified into the entertainment business, Verizon partnered with existing entertainment companies, including Disney, to offer popular shows and movies to its customers. The company has more than 132,000 employees, and is headed by Hans E. Vestberg. Verizon’s shares are up more than 1% in the last one-year, and YTD, they are down over 4%. It is headquartered in New York City.

  1. Citigroup (19,431 million)

Founded in 1812, it is a financial holding company that operates through the following segments – Global Consumer Banking, Institutional Clients Group, Corporate and Other. The company has more than 210,000 employees, and is headed by Jane Fraser. Citigroup’s shares are up more than 60% in the last one-year, and YTD, they are up over 27%. In 2019, Citi’s shareholders were richly rewarded as its share price increased by 53%. It is headquartered in New York City.

  1. JPMorgan Chase ($36,431 million)

Founded in 1968, it is a financial holding company that provides financial and investment banking services to clients worldwide. The company has more than 255,000 employees, and is headed by James Dimon. JPMorgan’s shares are up more than 64% in the last one-year, and YTD, they are up over 29%. It is headquartered in New York City.

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