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Fresh Paint
Thursday, October 26, 2006
 
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Exxon Mobil Posts $10.49B Profit in 3Q
DALLAS (AP) -- Oil industry behemoth Exxon Mobil's earnings rose to $10.49 billion in the third quarter, the second-largest quarterly profit ever recorded by a publicly traded U.S. company. Its shares briefly rose to a 52-week high.

The report Thursday comes as high crude prices this year have fueled record profits in the oil industry, triggering an outcry from consumers who were being asked to pay about $3 a gallon [ed. somwhere in fantasy land, not here in the land of nearly 4 buck gas] for gasoline in early August.
Oh well. Thought I could get away without a comment.

If this is the second largest, what could possibly be the first?
The largest quarterly profit ever was Exxon Mobil Corp.'s $10.71 billion profit in the fourth quarter of 2005.

The company may beat that next quarter, said Howard Silverblatt Standard & Poor's Senior Index Analyst. "Then in all likelihood they will be at that $40 billion mark for the year."
It's enough to make a person a commie. Especially since their dividend rate currently runs less than 2 percent. WTF are they doing with it all?

- posted by Cynthia @ 11:06 AM | | | Link |

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