February 1, 2007 10:04 PM
Exxon Mobile Is Minting Money
$39.5 billion annual profit! That's more than $100 million a day and $1,252 per second. It will be hard to exceed, even by Exxon itself.
From WSJ:
The world's largest publicly traded energy producer and the largest public U.S. company by market value racked up a $39.5 billion full-year profit -- about $108 million a day, and the latest in a string of record Exxon profit reports. But its fourth-quarter net income dropped 4% from a year earlier, underscoring the industrywide challenges that rising costs and lower commodity prices present to matching previous fat profit reports.
...
For Exxon, Wall Street is hoping its reach and breadth will help it continue to draw out new supplies of oil and natural gas and eke out fatter margins than its rivals on its so-called downstream business, which makes and sells refined products like gasoline. So even though Exxon might not break its own record in 2007, analysts said, the traditional foundation of its profitability -- skillful and budget-wise execution of hugely complex and expensive energy projects -- will help the company continue to churn out income and cash.
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