Rising Oil Prices Swell Profits at Exxon and Shell - NYTimes.com
Exxon Mobil, the world's largest publicly traded oil company, reported on Thursday that second-quarter income rose 14 percent, to $11.68 billion, the highest-ever for an American company. Net income of $2.22 a share compared with $10.26 billion, or $1.83 a share, in the quarter a year ago. Revenue rose 40 percent, to $138.1 billion, from $98.4 billion in the quarter a year ago. Excluding an after-tax charge of $290 million tied to an Exxon Valdez court settlement, earnings were $11.97 billion, or $2.27 a share. Excluding one-time charges, analysts had expected Exxon Mobil to earn $2.52 a share on revenue of $144 billion, according to Thomson Financial. With this quarter's result, Exxon topped its own record of $11.66 billion in the fourth quarter of last year.