Thursday October 30, 10:35 am ET By John Porretto, AP Business Writer Exxon Mobil shatters own record for largest profit from operations by a US corporation
HOUSTON (AP) -- Exxon Mobil Corp., the world's largest publicly traded oil company, reported income Thursday that shattered its own record for the biggest profit from operations by a U.S. corporation, earning $14.83 billion in the third quarter.
The Irving, Texas-based company has reported unprecedented back-to-back quarters, the end of the most recent coinciding with a rapid plunge in crude prices. Benchmark oil prices fell another $2.21 to $65.29 Thursday on the New York Mercantile Exchange, about 56 percent off record highs in July.
Exxon said net income jumped nearly 58 percent to $2.86 a share in the July-September period. That compares with $9.41 billion, or $1.70 a share, a year ago.
The previous record for U.S. corporate profit was set in the last quarter, when Exxon Mobil earned $11.68 billion.
Revenue rose 35 percent to $137.7 billion.
On average, analysts expected the company to earn $2.39 per share in the latest quarter on revenue of $131.4 billion.
Company shares fell 90 cents to $73.75 at the open of trade.
I don't blame Exxon Mobile nor do I blame the government for their largest profit ever. Who I do blame are the dumb people who actually drive up to one of their over priced gas pumps and put the gas in their cars. Are they stupid or what? There are plenty of other gas stations in town folks. Just open your eyes and 'look'!!! AND most are cheaper! DUH!
When the INSANE are running the ASYLUM In individuals, insanity is rare; but in groups, parties, nations and epochs, it is the rule. -- Friedrich Nietzsche
“How fortunate for those in power that people never think.” Adolph Hitler
I agree, Bumble. In fact, I'm sure that unknowingly, I actually profit every time someone goes to the pump at Exxon/Mobil although I refuse to go there. If people want to pay their price, then fine, please make a contribution to my 401K. It's really hurting since the House/Senate decided to "help" it.
Getty at 5 Corners has actually been the cheapest lately. That, and the Cumby's over by Golub, and then there's a couple places down on Broadway that are starting to give them a run for their money.
I agree, Bumble. In fact, I'm sure that unknowingly, I actually profit every time someone goes to the pump at Exxon/Mobil although I refuse to go there. If people want to pay their price, then fine, please make a contribution to my 401K. It's really hurting since the House/Senate decided to "help" it.
And that is part of the reason we are where we are......do we really think the boomers with their large portfolios were worried when the next generation was charging up a storm.......NOT.......their 401k and the like are shrinking due to the 'false value' of our lifestyles......
...you are a product of your environment, your environment is a product of your priorities, your priorities are a product of you......
The replacement of morality and conscience with law produces a deadly paradox.
STOP BEING GOOD DEMOCRATS---STOP BEING GOOD REPUBLICANS--START BEING GOOD AMERICANS
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