Exxon Mobil Has Biggest Profit Ever At $11.68B
The world's largest publicly traded oil company said Thursday its net income for the April-June period came to $2.22 a share, up from $10.26 billion, or $1.83 a share, a year ago.
Revenue rose 40 percent to $138.1 billion from $98.4 billion in the year-earlier quarter.
Excluding an aftertax charge of $290 million related to an Exxon Valdez court settlement, earnings amounted to $11.97 billion, or $2.27 per share.
Analyst on average expected Exxon Mobil to earn $2.52 a share on revenue of $144 billion, according to a survey by Thomson Financial. The estimates typically exclude one-time items.
© 2008 Associated Press