Exxon Mobil Has Biggest Profit Ever At $11.68B

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Associated Press

Exxon Mobil Has Biggest Profit Ever At $11.68B

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HOUSTON - Lifted by record crude prices, Exxon Mobil says its second-quarter earnings rose nearly 14 percent to $11.68 billion, the biggest quarterly profit ever by any U.S. corporation.0731 01 1 2

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

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