Exxon Mobil Corp Posts $15 Billion Profit For Third Quarter, That's $1,865.69 Per Second
Read 43,807 TimesPosted Oct 30, 2008, 11:22 ET by Jason
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What would you do with $1,865.69 dollars per second? Those are the profits that oil giant Exxon Mobil Corporation posted for their quarterly reports this morning. In an article from CNN Money, the United States oil company said its third quarter net profit "was $14.83 billion, or $2.86 per share, up from $9.41 billion, or $1.70, a year earlier. That profit included $1.45 billion in special items". Earlier this year during the second quarter the company reported a previous record of $11.68 billion, but that has obviously been broken again in just a few months. Their total revenue for the third quarter has marked a record $137.7 billion, a 40 percent jump over one year ago, accounting for a net income of $12.2 billion and 28 percent surge in revenue to $131.13 billion. Meanwhile, oil prices that were trading at a high of $140.97 this past summer are now trading at less than $70 per barrel. Hurricanes Gustav and Ike this past year only made a small dent in the company, accounting for only $50 million lost before taxes. Bummer, and I thought the whole world was going to end when the hurricanes hit our "oil filled" Gulf of Mexico.

Price gouging anyone?




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