Thursday, April 27, 2006

Exxon profit surges

Exxon Mobil reported higher quarterly profits Thursday as the price of oil surged. But the company missed analyst estimates and failed to top last quarter's record earnings.

The company said it earned $8.4 billion, or $1.37 per share, in the first quarter of 2006.

Last quarter Exxon earned $10.7 billion, or $1.71 a share. It was the biggest quarterly profit for any corporation in U.S. history.

Exxon also posed the biggest yearly profit ever recorded in the U.S. in that quarter. The company chalked up $36.1 billion in earnings for 2005, or $1,146 a second, a 31 percent increase from the year prior.

Exxon profit surges - Apr. 27, 2006

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