The Daily Sandwich

"We have to learn the lesson that intellectual honesty is fundamental for everything we cherish." -Sir Karl Popper

Location: Boston, Massachusetts, United States


Friday, October 28, 2005

ExxonMobil profits up 75%

Here's a heart-warming story for you:

Exxon Mobil Corp., the world's largest publicly traded oil company, on Thursday said quarterly profit surged 75 percent to nearly $10 billion, raking in a bonanza from record oil prices.

The profit was the highest in the company's history, surpassing the record it set in the 2004 fourth quarter. Revenue jumped 32 percent to just over $100 billion.

Two powerful hurricanes ripped through the Gulf of Mexico in the third quarter, disrupting energy operations in the region and sending oil prices and refining margins sharply higher.

Exxon Mobil said net income rose to $9.9 billion, or $1.58 a share, in the third quarter from $5.68 billion, or 88 cents a share, a year earlier.

Yet you can't help but be happy for a cherub-faced charmer like CEO Lee Raymond:

Lee F. Raymond, Chief Executive Officer of Exxon Mobil is seen during the Reuters Energy Summit in New York, June 21, 2005. Exxon, the world's largest publicly traded oil company, on Thursday reported quarterly profit surged, pushed up by record crude oil and natural gas prices. (Mike Segar/Reuters)

Back to Tatooine with you, Jabba!