Exxon Mobil Sees Record Profit for U.S. Co.
Quote:IRVING, Texas (AP) -- Exxon Mobil Corp. posted record profits for any U.S. company on Monday - $10.71 billion for the fourth quarter and $36.13 billion for the year - as the world's biggest publicly traded oil company benefited from high oil and gas prices and demand for refined products. The results exceeded Wall Street expectations and Exxon shares rose nearly 3 percent on premarket trading.
The company's earnings amounted to $1.71 per share for the October-December quarter, up from $8.42 billion, or $1.30 per share, in the year ago quarter. The result topped the then-record quarterly profit of $9.92 billion Exxon posted in the third quarter of 2005.
Exxon's profit for the year was also the largest annual reported net income in U.S. history, according to Howard Silverblatt, a stock market analyst for Standard & Poor's. He said the previous high was Exxon's $25.3 billion profit in 2004.
I was under the impression that the days of he robber barons was past. How can they lose when energy policy,pardon the expression, is in the hands of the oil industry. As usual the talk about investigating price gouging and excess profits was just a lot of congressional hot air.
Stumble It!
Tweet This
Bookmark on Delicious
Share on Facebook
Share on MySpace