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FreaknDavid · 27-10-11, 12:47

Exxon Mobil reported a 41% increase in net income for the third quarter, compared to last year.

NEW YORK (CNNMoney) -- Exxon Mobil reported third quarter earnings of $10.3 billion on Thursday, a surge of 41% from the year-earlier quarter that beat expectations.
Exxon's (XOM, Fortune 500) stock rose 1% in premarket trading, as the company attributed the increase to higher prices for oil and natural gas.
The net profit for the world's leading oil company soared compared to the year-earlier net income of $7.4 billion. Per-share income climbed to $2.13 per share from $1.44 in the prior year.
The company said that revenue rose to $125.3 billion from $95.3 billion in the year-ago quarter.
Analysts were expecting revenue to jump 19% to $113.6 billion for the third quarter, and a surge in net income to $10.2 billion, with earnings of $2.12 per share. That's according to a consensus of forecasts from Thomson Reuters.
But Exxon's income was well below its record profit of $14.83 billion for the third quarter in 2008.
Oil industry competitors also saw stock gains. In premarket trading, Chevron Corp (CVX, Fortune 500). and BP PLC (BP) rose about 1%, while Royal Dutch Shell (RDSA) climbed nearly 2% and Total SA (TOT) jumped 4%.

Bottom Line: The People are suffering while they make billions.

27-10-11, 12:47	#1
FreaknDavid Join Date: Mar 2011 Location: In The Hills of Tennessee Posts: 6,631 Thanks: 7,332 Thanked 7,261 Times in 4,751 Posts Awards Showcase Total Awards: 5	Exxon Mobil Profit Soars 41% Exxon Mobil reported a 41% increase in net income for the third quarter, compared to last year. NEW YORK (CNNMoney) -- Exxon Mobil reported third quarter earnings of $10.3 billion on Thursday, a surge of 41% from the year-earlier quarter that beat expectations. Exxon's (XOM, Fortune 500) stock rose 1% in premarket trading, as the company attributed the increase to higher prices for oil and natural gas. The net profit for the world's leading oil company soared compared to the year-earlier net income of $7.4 billion. Per-share income climbed to $2.13 per share from $1.44 in the prior year. The company said that revenue rose to $125.3 billion from $95.3 billion in the year-ago quarter. Analysts were expecting revenue to jump 19% to $113.6 billion for the third quarter, and a surge in net income to $10.2 billion, with earnings of $2.12 per share. That's according to a consensus of forecasts from Thomson Reuters. But Exxon's income was well below its record profit of $14.83 billion for the third quarter in 2008. Oil industry competitors also saw stock gains. In premarket trading, Chevron Corp (CVX, Fortune 500). and BP PLC (BP) rose about 1%, while Royal Dutch Shell (RDSA) climbed nearly 2% and Total SA (TOT) jumped 4%. Bottom Line: The People are suffering while they make billions. __________________ Rock Out With DreamTeamDownloads1-The Best Place To Be For Downloads. You Can Help the site If You Donate, Please Click Here: DONATE Thank You For Your Support & Membership To DTD1.

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