Exxon Mobil's Profit Jumps on Higher Oil Prices, Production

Monday, 31 Jan 2011 08:55 AM

 

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink
Exxon says net income grew 53 percent in the fourth quarter as oil prices rose and the company increased production.

The largest publicly traded oil company on Monday reported earnings of $9.25 billion, or $1.85 per share, the highest since its record profit of $14.8 billion in the third quarter of 2008. In the year-ago quarter, Exxon earned $6.05 billion, or $1.27 per share.

Revenue increased 17 percent to $105 billion.

Analyst had expected earnings of $1.62 per share on revenue of $99.1 billion, according to FactSet.

For the full year, Exxon Mobil Corp. said it earned $30.5 billion, or $6.22 per share, compared with $19.3 billion, or $3.98 per share, in 2009. Annual revenue increased 32 percent to $383 billion.

© Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web

Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 

You May Also Like
Around the Web

Most Commented

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved