soulxtc
July 27th, 2006, 08:47 AM
Exxon Mobil Corp. said Thursday it earned $10.36 billion in the second quarter, the second largest quarterly profit ever recorded by a publicly traded U.S. company.
The earnings figure was 36 percent above the profit it reported a year ago. High oil prices helped boost the company's revenue by 12 percent to a level just short of a quarterly record.
Exxon Mobil's report comes a day after another large U.S. oil company, ConocoPhillips, said it earned more than $5 billion in the quarter and at a time when many drivers in the U.S. are paying $3 for a gallon of gas _ increasing the likelihood of further political backlash in Washington.
Exxon Mobil, the world's largest oil company by market capitalization, said earnings amounted to $1.72 per share in the April-June quarter compared with a profit of $7.64 billion, or $1.20 per share, a year ago.
The results topped Wall Street expectations but came in behind Exxon Mobil's record profit of $10.71 billion set in the fourth quarter of 2005.
Analysts polled by Thomson Financial expected the company to earn $1.64 per share.
http://www.breitbart.com/news/2006/07/27/D8J4BVPO1.html
http://www.breitbart.com/images/2006/7/27/D8J4BVPO1/D8J4BVPO1_preview.jpg
The earnings figure was 36 percent above the profit it reported a year ago. High oil prices helped boost the company's revenue by 12 percent to a level just short of a quarterly record.
Exxon Mobil's report comes a day after another large U.S. oil company, ConocoPhillips, said it earned more than $5 billion in the quarter and at a time when many drivers in the U.S. are paying $3 for a gallon of gas _ increasing the likelihood of further political backlash in Washington.
Exxon Mobil, the world's largest oil company by market capitalization, said earnings amounted to $1.72 per share in the April-June quarter compared with a profit of $7.64 billion, or $1.20 per share, a year ago.
The results topped Wall Street expectations but came in behind Exxon Mobil's record profit of $10.71 billion set in the fourth quarter of 2005.
Analysts polled by Thomson Financial expected the company to earn $1.64 per share.
http://www.breitbart.com/news/2006/07/27/D8J4BVPO1.html
http://www.breitbart.com/images/2006/7/27/D8J4BVPO1/D8J4BVPO1_preview.jpg