Exxon Mobil breaks another earnings record

HOUSTON - 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.

Yet numbers contained within the company’s most recent financial report revealed production numbers that continue to sag, and shares slipped 3 percent in midday trading.

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 $2.91 to $64.59 Thursday on the New York Mercantile Exchange, about 56 percent off record highs in July.

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1 comment:

  1. AnonymousOctober 31, 2008 at 12:08 AM

    This has to be a big insult to all people who have been paying double or triple the amount for gas this past few years.

    the people need to sue Exxon/Mobil for robbing the people

    ReplyDelete

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