InfoAnda - ExxonMobil profit surges to record 14.8 billion dollars

Pakistanis angry over detentions in Times Sq. case
Monday, May 24, 2010
ISLAMABAD – Relatives of three men detained by Pakistan for alleged links to the suspect in the attempted Times Square bombing say the men are innocent.
They

Taiwan denies boycotting Australian film festival
Thursday, August 6, 2009

AFP - Thursday, August 6TAIPEI (AFP) - - Taiwan's Beijing-friendly government on Wednesday denied boycotting an Australian film festival amid a row over the e

Merkel's support dips, regional ally resigns International
Thursday, September 3, 2009

By Sarah Marsh and Noah Barkin

BERLIN (Reuters) - Chancellor Angela Merkel suffered a double blow on Thursday as a senior party ally in east German

Minister seeks closure of anti-Berlusconi websites
Wednesday, December 16, 2009
ROME (AFP) - – The Italian government moved Tuesday to close down Internet sites encouraging further violence against Prime Minister Silvio Berlusconi, who

Asian markets mixed after Wall Street rally
Wednesday, March 18, 2009

By ELAINE KURTENBACH,AP Business Writer AP - Wednesday, March 18SHANGHAI - Asia's stock market rally seemed to be running out of steam Wednesday, despite an

EU decision on support for banks due November: commissioner | 5 September 2010
Ship forged with 9/11 steel sails into New York | 3 November 2009
Colombia to extradite accused Venezuelan drug lord | | 17 November 2010

German, U.S. films win top prizes at Tribeca festival | 30 April 2010

">Forum Views () ">Forum Replies ()

Read more with google mobile : ExxonMobil profit surges to record 14.8 billion dollars

Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Secondary Navigation Top Stories Full Coverage Most Popular Photos Search Search: ExxonMobil profit surges to record 14.8 billion dollars AFP - Friday, October 31 NEW YORK (AFP) - - US oil giant ExxonMobil shook off economic troubles and hurricanes to post a record third-quarter profit of 14.83 billion dollars, up 58 percent from a year ago, the company said Thursday. The latest report pushed up profits for the first nine months of 2008 to 37.4 billion dollars, putting the biggest oil and gas company on track for another record year for earnings. The results translated to profit of 2.86 dollars per share, or 2.59 dollars excluding special items, ahead of market expectations of 2.39 dollars. Revenue in the July-September period jumped 34 percent to 13.73 billion dollars, the Irvine, Texas-based company said. Third-quarter earnings excluding special items worth 1.45 billion dollars were a record 13.38 billion dollars, up 42 percent from the 2007 third quarter. "ExxonMobil's strong results in the third quarter of 2008 demonstrate the continued success of our disciplined business approach," ExxonMobil chairman Rex Tillerson said. "Despite the continuing uncertainty in world financial markets, ExxonMobil has maintained a strong financial position," he said. The July-September financial results include the impacts of hurricanes Gustav and Ike which rocked US Gulf Coast operations. Most of the operations shuttered by the storms are back on line or are in the final phases of start-up. "We responded quickly and effectively to maximize supplies of gasoline and other products to the marketplace," Tillerson said. The company endured a 50 million dollar increase in pre-tax costs due to the hurricanes and a reduction in production of 24,000 oil equivalent barrels per day. The fallout from damage repairs and lower output was forecast to shave some 500 million dollars off fourth-quarter earnings. Tillerson said full-year capital and exploration investments were expected to reach some 25 billion dollars, in line with previous guidance. Those investments rose to 6.9 billion dollars in the third quarter, up 26 percent from a year ago. For the first nine months, they amounted to 19.3 billion dollars. "Through these investments we continue to make a substantial contribution to employment and economic activity in the countries in which we operate," Tillerson said. Third-quarter net income included an after-tax special gain of 1.62 billion dollars from the sale of a natural gas transportation business in Germany and an after-tax special charge of 170 million dollars reflecting a provision for interest related to the Valdez punitive damages award. The US Supreme Court in June rejected as excessive 2.5 billion dollars in punitive damages awarded to victims of the 1989 Exxon Valdez oil spill disaster off the coast of Alaska and ordered it cut to 507.5 million dollars. The record earnings failed to impress investors as crude oil prices tumbled on worries about demand amid a financial crisis that is weighing on the global economy. Shares in ExxonMobil, the biggest US company by capitalization and the largest component of the blue-chip Dow Jones Industrial Average, were down 2.18 percent at 73.02 dollars in afternoon trade. Underscoring the demand worries was news that the US economy, the world's biggest energy consumer, shrank 0.3 percent in the third quarter and appeared heading into a deep recession. "Although consumers and politicians are likely to display outrage that Exxon is posting such massive earnings during a time of economic unrest, the company faces significant headwinds going forward," Briefing.com analysts wrote in a client note. "Crude oil prices are down 54 percent since July and oil production has declined, which will likely lead to lower profit and revenue in the coming quarters." Email Story IM Story Printable View Blog This Recommend this article Average (0 votes) Sign in to recommend this article » Most Recommended Stories » Most Popular – Top Stories Viewed When men see red, they see hot: study Asian stocks soar on US Fed rate cut McCain in defiance as Obama boosted by economic data World's fattest man weds friend's widow Desperate pleas end in despair as starlet's nephew found dead View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology

Other News on Thursday, 30 October 2008
Taliban suicide attack kills at least five in Afghan capital
Gaza rocket strikes Israel; cargo crossings closed
Fears of more deaths as Pakistan quake victims wait for aid
Iraq wants all US troops gone by end of 2011
Iraq holding thousands in secret prisons: lawmaker
Archaeologist says he found oldest Hebrew writing
Israel demolishes dozens of West Bank shacks
Taliban attack in Afghan govt building kills five
Israel sets election date of Feb. 10
Five killed in Afghan capital suicide attack: police
US dress-up fest Halloween hit by political correctness
Syrian crowd protests US raid amid heavy security
McCain shows defiance, five days from election
ExxonMobil profit surges to record 14.8 billion dollars
US officials' hopes for Iraq security deal fade
American Express to slash 10 pct of worldwide workforce
McCain shows defiance, five days from election
US embassy shut as Syrians protest over deadly raid
US economy shrinks 0.3 percent
Google's version of Wikipedia goes multi-lingual
Netflix-TiVo alliance to stream online movies to televisions
AOL.com rolls out homepage redesign
Beatles getting new life in custom videogame
US economy shrinks, Japan unveils stimulus
Intel invests 11.5 mln to help develop Taiwan 4G network
Phillies reign over Tampa Bay in Baseball World Series
Forbes rich list: Financial turmoil hits China's super-wealthy
Shivering teacher tells class about climate change
US economy shrinks, Japan unveils stimulus
Pakistan has no alternative to taking IMF money-adviser
Pakistan's fiscal deficit 1 pct of GDP in Q1
India's ONGC Q2 profit slides six pct, hit by fuel subsidies
India inflation falls below 11 pct, more easing seen
Sri Lanka to allow rupee 'greater flexibility' to boost exports
Japan's Mazda, Mitsubishi Motors cut forecasts on crisis
Nigeria cuts oil exports
Nintendo bucks industry gloom with rising profits
LUKOIL slashes 2009-2011 capex plan on oil price
Nintendo cuts annual profit forecast on strong yen
Director Mendes tapped to film 'Preacher' comics
Fresh from Iraq success, Petraeus takes on Afghanistan, Iran
McCain shows defiance, five days from election
In the hands of Afghanistan's Taliban, life is cheap
Computer makers recall 100,000 Sony batteries
Pakistan soldiers bring aid to quake survivors
Afghan famine greater risk than Taliban: British think-tank
Ecuador alleges 'clear' signs of CIA infiltration
US asks China to review Tibet policies
MySpace poll shows Internet generation favors Barack Obama
EA posts hefty loss, to cut 540 jobs
Hong Kong watchdog may sue banks over Lehman mini-bond sales
Rebels poised as EU mulls sending troops to DR Congo
Antarctica feeling the heat too, says study
BBC chief quits, star presenter suspended over offensive prank
Antarctica feeling the heat too, says study
Bank of Japan cuts key interest rate
S.Korean won posts biggest weekly gain in 11 yrs
Seoul shares up 2.6 pct, post biggest weekly gain
Philippine stock index soars 4.6 pct
Japan's Mizuho lowers forecasts on stock declines
Japan inflation slows, bolsters rate cut hopes
Oil prices extend losses in Asian trade
Toyota says it will reopen US plants to ship to Mideast
NZ dollar nudges lower as risk returns, bonds dip
Minister: Japan ready with money for IMF bailout
Seoul shares extend gains, up 4 percent
Nazi leader's grandniece, Jewish woman find peace
Greece at new risk of being pushed off euro
Bodies of missing Tenn. mom, Jo Ann Bain, and daughter found
Female Breasts Are Bigger Than Ever
AMD Trinity Accelerated Processing Units Now in Volume Production
The Avengers (2012 film), made the second biggest opening- and single-day gross of all-time
AMD to Start Production of piledriver
Ivy Bridge Quad-Core, Four-Thread Desktop CPUs
Islamists Protest Lady Gaga's Concert in Indonesia
Japan Successfully Broadcasts an 8K Signal Over the Air
ECB boosts loans to 1 trillion Euro to stop credit crunch
Egypt : Mohammed Morsi won with 52 percent
What do you call 100,000 Frenchmen with their hands up
AMD Launches AMD Embedded R-Series APU Platform
Fed Should not Ignore Emerging Market Crisis
Fed casts shadow over India, emerging markets
Why are Chinese tourists so rude? A few insights

USD EUR - 1 year graph		BlogMeter 1.01