Exxon Mobil Shatters Records with $40.6 Billion Profit in 2007
While most of us spent large portions of 2007 wondering just how high gasoline prices could go, and shuddering at reports of no end in sight, parties invested in the fortunes of Exxon Mobil might have had slightly different reactions.
Exxon, the world’s largest publicly traded oil company, shattered records today by announcing a $40.6 billion profit for 2007. That figure represents the largest annual profit ever recorded by a U.S. company. The oil company also broke the record for the largest quarterly profit in history, earning a net income of $11.7 billion during the fourth quarter of last year.
Exxon was merely shadow boxing with the profit records, besting its own marks of $39.5 billion earned in 2006, and $10.71 billion for Q4 in 2005. The company also broke its own record for total sales, amassing more than $404.5 billion in 2007.
While crude oil prices have fallen back from their record high of $100.09 on January 3 of this year, we can only expect that next year’s profits for the oil giant will be even more impressive.
+ Associated Press: Exxon Mobil Posts Record Profits
If you’ve got an idea for Question of the Day, a funny photo for Caption It, or just want to share a news tip, let us know at windingroadtips@gmail.com
Comments
MGBYG
Wow. Fear is very profitable.
The Stig
They almost made as much as I did last year. Well done guys.
Ben
So, who's to blame for the high gas prices?
Landcrusher
For anyone who thinks that the oil companies make too much money, I would like to remind them that they too can be an owner. Buy the stock. Also, if you have a retirement or pension plan, there is a good chance that you already are a part owner of an oil company. They may be conspiring to get all your money, but what happens to your conspiracy theory when you are welcomed as a member of said conspiracy?
Post new comment