DOES THIS NOT SURPRISE YOU !
Reuters
Exxon earnings soar on record oil prices
Friday February 1, 8:29 am ET
NEW YORK (Reuters) - Exxon Mobil Corp (NYSE:XOM - News) said on Friday record oil prices boosted its fourth-quarter earnings to $11.66 billion, the highest ever operating profit by a U.S. company.
Shares of the world’s largest non-government-controlled oil company rose 1.7 percent in before-the-bell trading as the results beat Wall Street forecasts.
Net income rose nearly 14 percent from the year-earlier of $10.25 billion.
Earnings per share rose to $2.13 from $1.76 last year. Analysts, on average, were expecting earnings of $1.98 per share.
“They performed across the board, upstream, downstream, U.S. and foreign,” said James Halloran, who helps manage about $35 billion at National City Private Client Group.
Revenue in the quarter rose to $116.64 billion from $90.03 billion in 2006.
Oil prices averaged more than $90 a barrel during the quarter and nearly hit $100 due to tight supplies, geopolitical risks and the weak dollar. They averaged just over $60 a barrel in the same period a year earlier.
Profit margins from refining were relatively weak in the quarter as gasoline prices failed to keep pace with oil prices that soared to record levels.
Since the beginning of last year, shares of Exxon are up about 13 percent, underperforming the Chicago Board Options Exchange’s oil index, which is up about 21 percent.
Well look’s like those dirty DC people are going to get a nice sizable bonus check huh! I guess this is the reason to be a lawyer when you go to Washington to become involved with the group, knowing where to stash the buck’s, so as not to get caught, with the money that is. As far as being caught being dirty, well that’s just another day on the Hill, you lied to get here, you lied to stay here, and you’ll lie to get out of it!!!!! See what a good education at law school does for ya huh! I’m going to go take a bowel movement, you might take interest in that, you sure as hell have shown no interest in any thing else..
My staff and I are here, where are you. If you want to contact us or help in any way, you can reach us here or thru my e-mail.
Richard
richmartinphotographer@yahoo.com