Thursday, October 30, 2008

Announced in the same day: Us Economy shrinking YET Exxon Mobil posts biggest US quarterly profit ever

posted by Free Press Houston @ 8:31 AM


From the Associated Press:

"HOUSTON (AP) -- Exxon Mobil Corp., the world's largest publicly traded oil company, reported income Thursday that shattered its own record for the biggest profit from operations by a U.S. corporation, earning $14.83 billion in the third quarter.

The Irving, Texas-based company has reported unprecedented back-to-back quarters, the end of the most recent coinciding with a rapid plunge in crude prices. Benchmark oil prices fell another $2.21 to $65.29 Thursday on the New York Mercantile Exchange, about 56 percent off record highs in July.

Exxon said net income jumped nearly 58 percent to $2.86 a share in the July-September period. That compares with $9.41 billion, or $1.70 a share, a year ago."

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