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Exxon posts record $11.68 billion profit

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Steve Hargreaves,
CNN
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.

(Article continues below)

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.

  • A d v e r t i s e m e n t

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.

Full article here

This article was posted: Thursday, July 31, 2008 at 9:20 am





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