Monday, January 30, 2006

For the record

In today's WSJ, the top article (paid subscription required) was about Exxon Mobile's fourth quarter 2005 profits. Net income: $10.71 billion. Revenue: $99.66 billion.
The Exxon result amounted to a profit of about $80,842 per minute during the quarter. It was one of the biggest quarterly profits of any company in history. Though a handful of other companies have posted higher quarterly profits, those were largely through accounting adjustments, while Exxon's result came mainly from operations.
The biggest driver of Exxon's surging profit was high energy prices amid the world's increasing thirst for oil and natural gas. [...] Exxon's profit soared even though the company produced less fossil fuel.

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