random3434
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- Jun 29, 2008
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- #101
So? Their profit margin is still less than 10% that of a hedge fund. Less than 30% that of Software development.
Context is important.
20 most profitable companies - 1. Exxon Mobil (1) - FORTUNE
Like last year, Exxon was edged out as the largest company in the U.S. (that crown again goes to Wal-Mart), but it can boast about being the most profitable. With the recession past it, Exxon boosted earnings 59% thanks to rising oil prices driven by a recovering world economy. Oil isn't everything to Exxon.
After its 2009 mega-deal for XTO, natural gas now accounts for half of Exxon's global production. But even amid sluggish natural gas prices, Exxon remains in a league of its own on our list: its $30.5 billion in profits are a staggering $10 billion more than its closest oily competitor, Chevron, and more than 52 times the size of the median profits in the 500.
Despite how you like to make it sound, Exxon isn't crying in the poorhouse. Furthermore, a company the size of ExxonMobil and the industry that it's in would not be expected to get the numbers you seem to be hinting at.
But hey, don't worry, Exxon is already well on it's way to smashing last year's mark.
Exxon Mobil profit soars along with gas prices - The Washington Post
Exxon Mobil reported a first-quarter profit Thursday of $10.7 billion, a 69 percent jump from the year before as higher crude oil prices, fatter U.S. oil refining and marketing margins, and a revival in global demand for petrochemicals boosted earnings.
Royal Dutch Shell also reported higher profits. Excluding one-time items and inventory gains, Shell earned $6.3 billion, up 30 percent from the first quarter of 2010 even as production dropped 3 percent.
Higher crude oil prices were the overriding reason for the increase in profits. Exxon Mobil produces 2.4 million barrels a day of crude oil and natural gas liquids, and the average price Exxon received for every barrel was $25 higher than the year before, David Rosenthal, vice president of investor relations, said in a conference call with analysts.
Time for y'all to get a smart car!