ExxonMobil posts record profits in 2008

by PegNews wire

Photo not provided by ExxonMobil

Impoverished Exxon execs would like to know if you're going to eat that

IRVING — ExxonMobil Corp. announced today that they posted a record profit in 2008, despite a relatively slow fourth quarter hampered by lower gas prices and Hurricanes Ike and Gustav.

The company posted a profit of $7.82 billion in the fourth quarter, or $1.55 per share, which is 33 percent lower than its earnings of $11.66 billion, or $2.13 per share, during the same quarter in 2007. Exxon’s fourth-quarter revenue was a mere $84.70 billion, down from $116.6 billion during the same period last year.

The company also stated that it's 2008 profit grew to $45.2 billion, or $8.69 a share, a record. It was up from $40 billion in 2007. Revenue also grew in 2008 to $477 billion, up from $404 billion in 2007.

You can read the company's full report here.

Source: ExxonMobil