Thursday, July 31, 2008
Irving-based Exxon Mobil reports best quarterly profit in history of capitalism
Exxon Mobil reported making stupid, mind-boggling profits in the second quarter of 2008, a rise of 14% to $11.68 billion, which boils down to almost $90,000 per minute, which is its best quarterly profit in history, and the highest quarterly profit ever for any American company. This tops its previous record of $11.66 billion in the fourth quarter of 2007. But hey, gas prices are "down" to a mere $3.79 per gallon, so everyone can go back to sleep.
Posted by T.G.
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pabloindallas says:
Yes, and they underperformed Wall Street analyst's expectations for the quarter.
XOM has 5.25 BILLION shares of stock out there. Damned near everybody in the U.S. who has mutual fund holdings owns XOM, whether they know it or not.
XOM made 10.2% profit on its sales. Last time I looked, Microsoft made over 29% profit on sales. So what's your point? XOM's a really big company? Agreed. Would you be happier if it were a half dozen smaller companies doing exactly the same things?
Anonymous
1 year, 3 months agoLink to this comment | Suggest removal
xdavidwattsx says:
I think people would be happier if they Exxon wasn't so greedy and was reinvesting those profits into new alternative technologies.
The only thing Exxon is investing in is their shareholders pockets.
Anonymous
1 year, 3 months agoLink to this comment | Suggest removal
Clay213 says:
that's what publicly owned companies do.
move to cuba if you don't like it
Anonymous
1 year, 3 months agoLink to this comment | Suggest removal
xdavidwattsx says:
Oooh...the "love it or love it" comment.
I'm always impressed by the sheer wisdom of that one.
Anonymous
1 year, 3 months agoLink to this comment | Suggest removal