U.S. Fourth-Quarter GDP Revised Up to 1.4% Growth but Corporate Profits Fall

The fourth quarter’s slowdown was less severe than previously estimated but corporate profits fell, showing the economy entered 2016 on uneven footing.

Gross domestic product, the broadest measure of goods and services produced across the economy, advanced at a 1.4% seasonally adjusted annual rate in the fourth quarter, the Commerce Department said Friday. That was an upward revision from last month’s estimate of 1%…