Exxon, Chevron earnings soar on record oil prices
Fri Feb 1, 2008 By Michael Erman
NEW YORK (Reuters) - Exxon Mobil Corp, the world's largest non-government-controlled oil company, on Friday posted the highest-ever quarterly and yearly profits by a U.S. company, propelled by record oil prices.
Exxon's net income in the quarter rose nearly 14 percent to $11.66 billion, or $2.13 a share, from $10.25 billion, or $1.76 a share, in 2006. Analysts, on average, were expecting earnings of $1.98 per share.
The company's quarterly result as well as its full-year earnings of $40.61 billion set new records for U.S. profits, beating out previous marks also set by Exxon.
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(Cross-posted from Moving to Vancouver)