Exxon Profit Rises to $9.92 Bln, Oil Industry Record $101B 90 day income [View All]

[papau]

Exxon's third-quarter revenue rose to $100.7 billion.
Shell and Exxon earn a combined $18.9 Billion over 90 days.
http://www.bloomberg.com/apps/news?pid=10000087&refer=top_world_news&sid=aPITIheoNe1U
http://quote.bloomberg.com/apps/news?pid=10000103&sid=aBfEe2X7TS_s&refer=news_index

Exxon Profit Rises to $9.92 Bln, Oil Industry Record

Oct. 27 (Bloomberg) -- Exxon Mobil Corp., the world's largest publicly traded oil company, said third-quarter profit jumped 75 percent to an oil industry record of $9.92 billion as energy prices surged to all-time highs.

Net income rose to $1.58 a share, compared with $5.68 billion, or 88 cents a share, a year earlier, Irving, Texas-based Exxon Mobil said today in a statement. Revenue climbed 32 percent, topping $100 billion for the first time.

Prices for oil, natural gas and gasoline climbed to records in the quarter, spurred by demand growth around the world and hurricanes that crimped U.S. supplies. Profit margins on refined fuels widened as gasoline and diesel prices rose even more than the cost of crude oil.

``Profits continue to rise because of prices,'' Douglas Ober, who manages $2 billion, including Exxon Mobil shares, at Adams Express Co. in Baltimore, said today in an interview. ``We should continue to see high prices because so much production in the Gulf of Mexico is still shut in because of the hurricanes and a number of refineries are still closed.''<snip>