Exxon Mobil Has New Record Profit
Exxon Mobil
(XOM) - Get Report
said Thursday that its third-quarter profit soared 58% from a year ago and reached nearly $15 billion, beating its previous record for the highest quarterly earnings from a U.S. company.
The oil and gas giant earned $14.83 billion, or $2.86 a share, in the latest quarter, up from $9.41 billion and $1.70 a share a year earlier. Excluding items, Exxon Mobil earned $2.59 in the most recent period. Analysts were looking for $2.38.
Revenue jumped to $137.7 billion from $102.3 billion last year. Production decreased 8% from the third quarter of 2007.
Exxon Mobil's results arrived on the same day
(RDS.A)
said its own third-quarter earnings climbed 22% to $8.5 billion.
Chevron
(CVX) - Get Report
, like Exxon Mobil a component of the
Dow Jones Industrial Average
, will post its numbers Friday.
Shares of Exxon Mobil were recently down 2.9% to $72.51.
This article was written by a staff member of TheStreet.com.
