Exxon Mobil 1Q profit jumps 38 percent

[boomerbust]

Source: ap

NEW YORK— Exxon Mobil Corp. said Thursday its quarterly profit jumped 38 percent as oil prices rose in the first three months of the year.

That marks the first year-over-year increase in profits for Exxon since it posted an all-time record of $14.83 billion in the third quarter of 2008.

Still, earnings remain significantly below that level. During the first three months of this year, the Irving, Texas, oil giant had a profit of $6.3 billion, or $1.33 per share. That compares with $4.55 billion, or 92 cents per share, in the same period last year. Two years ago, Exxon earned $10.89 billion in the first quarter.

Revenue jumped 41 percent to $90.25 billion. Analysts had expected earnings of $1.41 a share on revenue of $96.41 billion.


Read more: http://www.rr.com/news/topic/article/rr/9000/11109336/Exxon_Mobil_1Q_profit_jumps_38_percent

[AndyA]

1. Vampires. Vultures. Their business practices should have been under investigation

years ago. War profiteering, price gouging, price fixing.

Exxon and the other oil companies are as responsible for the recession as Wall Street is. People couldn't afford the high gas prices to go to work, but had to so other things got cut out. Meanwhile, Exxon rakes in the obscene profits. :puke:

[proudohioan]

4. Yes, notice the period of time for the record, all-time high profits??

3rd Quarter of 2008..... yeah, seems to me that I was paying (at peak price) $4.23 per gallon around that same time period. My daily commute to work was 27 miles each way. Late July of '08, my electricity got shut off for 2 days because I had to wait to pay until I got my paycheck and my electric company wouldn't..... I have never had my electricity shut off before.

I don't necessarily blame the electric company for not waiting, cuz I WAS a month behind, but with the surge in gas prices, there was also a surge in grocery prices as well. Things for the majority of us were pretty damn tight, but go on, Exxon, rake in those obscene profits.

[Yupster]

2. Exon sells for $ 69 a share

So if they make $ 1.33 a share that would be about $ 5.40 a year which would be about a 7-8 % profit.

I don't know? An 8 % profit doesn't seem very exceptional.

[OllieLotte]

5. I agree.

I've held XOM stock for over a year. They aren't making much money and I'm questioning their long term prospects.

[FailureToCommunicate]

3. Does EXXON pay taxes to the country that is helping with the clean-up? Do their kids

fight in (our) wars for (their) oil? Somehow I doubt it.

no US taxes:
<http://motherjones.com/mojo/2010/04/exxon-mobil-paid-zero-income-tax-offshore%20shelter-wal-mart-general-electric-forbes>

[OllieLotte]

6. Exxon buys their oil or drills for it.

Don't drag Iraq or Afghanistan into it. You see that profits jump 34% and your small mind sees "price gouging". Jeez ya think that the 300 billion dollar company shares are held by a couple of rich guys on Wall Street?

[FailureToCommunicate]

11. I'll ignore the "small mind" comment, but if you don't wonder if we're in Iraq for oil, you are

almost alone here. And by your reply I'm guessing you're a stockholder in Exxon.

So you're okay with them paying NO taxes to the U.S. ?

Amazing how defensive folks get when "their" money is questioned...

[OllieLotte]

16. I do own EOM.

Which is how I know that they are not making huge amounts of money. You want them to pay more in taxes? Change the tax laws. Off course, when you have tax cheats running the treasury and tax codes with 17,000 pages, you'll have some unintended consequences.

Did you say funny how people are sensitive about their money? Funny how leaches are insensitive about other people's money.

[FailureToCommunicate]

18. Not sure who you think the "leaches" are. But then by the rest of your comments

I suspect I wouldn't care to hear anyway.
See ya.

[OllieLotte]

19. Guess what came in the mail Friday?

My Exxon Annual Shareholder report for 2009. I took a peek at the numbers and you'll never guess what I saw? Taxes! Exxon sales taxes almost $26B (I think you and I paid those). Other taxes and duties $35B (I'm guessing that that is what they paid for oil and gas rights). Lastly, Corporate taxes of $15 Billion.

After seeing that, I actually checked out your link to that blog. That fool was clueless.

http://www.exxonmobil.com/corporate link to 2009 annual report is upper right.

[ChickMagic]

7. I've never invested in stock

Should I invest in Exxon? I would feel so dirty,
but I need money for medical bills.

[OllieLotte]

8. I would not recommend buying Exxon.

You hear lots of talk, they are not making lots of money. I'm not sure where to put money these days.

[ChickMagic]

9. I'm a stock market virgin

so I'd hate to lose my meager 1 or 2 stocks.

[Yupster]

12. That's what mutual funds are there for

A small investor can buy 100 stocks at once and not risk losing half their money if one of their stocks fail.

[ChickMagic]

13. I never knew that

I'll look into it. Thanks! :hug:

[OllieLotte]

17. Mutual funds are an excellent way to invest.

Problem is that they have had a pretty good run up this past year.

[classysassy]

10. The greedy oil crooks and their enablers

are the one that should be deported to an island near the north or south pole and left to fend for themselves,poetic justice.

[Xenotime]

14. How is it you can make a profit from ruining the environment.

[Dont_Bogart_the_Pretzel]

15. And their are people still think that their should be a new tax at the pump..

:mad:

I'm gonna bookmark this for later when they come out and want more taxes.