Growth stocks of all descriptions have been beaten down for over a year thanks to a slew of unfavorable economic conditions. At the top of the list are higher interest rates meant to tame soaring inflation. Higher rates mean that the cash flows high-growth businesses promise down the road are worth a lot less in the present.

The moderate-interest-rate environment we're in now isn't as conducive to growth-stock investing as the near-zero-rate environment we're used to. That doesn't mean we should completely avoid growth stocks, though.

Here, we note two exceptional businesses that are already generating a strong profit. Best of all, there's a good chance their bottom lines will continue to move in the right direction over the long run.

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Source Fool.com