Thursday, July 31, 2008
Exxon Mobil once again reported the largest quarterly profit in U.S. history Thursday, posting net income of $11.68 billion on revenue of $138 billion in the second quarter.
That profit works out to $1,485.55 a second.
That barely beat the previous corporate record of $11.66 billion, also set by Exxon in the fourth quarter of 2007.
But Exxon (XOM, Fortune 500) profit fell short of Wall Street estimates.
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Analysts predicted the company, the world’s largest publicly traded oil firm, would make $12.1 billion in profit on $144.4 billion in revenue, according to Thomson Reuters.
Exxon shares fell about 2% in early trading on the New York Stock Exchange.
Excluding money set aside for a recent damage award related to the Valdez tanker spill back in 1989, Exxon made $11.97 billion in the quarter.
This article was posted: Thursday, July 31, 2008 at 9:20 am