Fueled by soaring crude oil prices, profits at energy behemoth ExxonMobil (XOM) leaped by a stronger-than-expected 69% in the first quarter.
The Irving, Tex.-based blue-chip company said it earned $10.65 billion, or $2.14 a share, last quarter, compared with a profit of $6.3 billion, or $1.33 a share, a year earlier. Analysts had been calling for EPS of $2.07.
Revenue jumped 26% to $114 billion, slower than the prior-year’s 41% growth and just under the Street’s view of $114.85 billion.
“ExxonMobil’s earnings reflect continued leadership in operational performance during a period of strong commodity prices,” CEO Rex Tillerson said in a statement.
5 comments:
No wonder all the oil companies are raking in big bucks. Look at the gas prices. I thought this was supposed to have been stopped several years ago. Congressional loop holes prevail again. John Q. Public gets the shaft once again.
Gouging ain't even the word for it. It's a "Royal" reaming. When I left salisbury a week ago, Salisbury, MD wawa was $3.65 a gallon.
Then I got to Delmar Del. wawa, $3.54 a gallon. Further north in the Wilmington area it was between $3.79 and $3.89
Something is not right. Where is all that BP money to clean up the Gulf?
Meanwhile, the other markets are showing negative numbers because of high oil prices...
What I would like to know is why there is such a disparity of gas prices at stations in a small area.
You can drive around salisbury and there could be 10cents difference in prices. One station across the street from another was 6cents lower.
???
Do not allow the Current Obama Media infer the oil companies are behind this.
Obama has de-valued the dollar, prevented drilling for oil in our Country; by the way we have more resources than the whole world and Obama is forcing you to accept his GREEN ENERGY-GLOBAL WARMING PLAN.
Obama wants everyone in the small cars you see making prescription deliveries; the little two seater.
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