Another record breaking quarter for the world's largest oil company, as Exxon Mobil (NYSE: XOM) put up some huge numbers once again for its third quarter, surpassing its previous quarterly records.For its third quarter, the company earned an amazing $14.83 billion. Net income jumped by 58% in the quarter, and worked out to an earnings per share of $2.86 for the July through September period, a time when oil and gasoline prices were both running at record high levels.
Analysts had been expecting to see the company show earnings of $2.38 per share in the quarter.
So just how impressive is this new record profit amount? Pretty impressive when you consider the previous record, which of course Exxon also held, was "only" $11.68 billion, set in the second quarter of this year. That is a pretty nice jump.
Shares of the company's stock are trading up 1.3% immediately following the announcement in premarket trading.
Michael Fowlkes has worked as a stock trader for seven years and spent the last four years working as an analyst for the online investment advisory service Investor's Observer.
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Reader Comments (Page 1 of 1)
12-10-2008 @ 8:22AM
BRUCE said...
ANOTHER CASE HOW THE RICH CAN SREW PEOPLE BECAUSE THAY GOT ALL THAT MONEY AND CLOUT WITH A CORRUT COURT SYMTEM