Exxon Mobil 1st Quarter Profits up 44 percent from a year ago

[Sandpiper]

Further proof that oil companies charge whatever the market will bear.


Thursday April 28, 2:26 pm ET
Exxon Mobil Posts 44 Percent Leap in 1Q Profit, Revenue on Crude, Natural Gas Prices


IRVING, Texas (AP) -- Exxon Mobil Corp., the world's largest publicly traded oil company, said Thursday that first-quarter earnings soared 44 percent from last year, due mainly to strong crude and natural gas prices. The company said it will boost its share repurchase rate by $1 billion in the second quarter.
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Net income surged to $7.86 billion, or $1.22 per share, from $5.44 billion, or 83 cents per share, a year ago. Excluding a $460 million gain on the sale of Exxon's stake in China Petroleum and Chemical, the company earned $1.15 per share in the latest quarter.

Total revenue climbed to $82.05 billion from $67.60 billion last year.

Analysts surveyed by Thomson Financial were looking for the company to post higher operating earnings of $1.20 per share in the latest quarter.

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http://biz.yahoo.com/ap/050428/earns_exxon_mobil.html?.v=9

[NewJeffCT]

1. Last year, ExxonMobil set an all-time record for profits - for ANY company

Last year, ExxonMobil set an all-time record for profits for ANY corporation, ever.

After they paid their taxes and all their expenses, their net profit was $25.3 billion. That is Billion with a B. Their profits were more than the revenues of like 450 of the Fortune 500.

The #2 all-time in profits was Ford some time in the 90s with like $18 billion. So, they made more than $7 billion more than the previous record-holder.

To get an idea how big they are, they almost passed Wal-Mart as #1 in the world last year...and, if they keep up their next 3 quarters similar to the first quarter, they might just do it.