Exxon Mobil Posts $10.49B Profit

[The_Professor]

Exxon Mobil Posts $10.49B Profit in 3Q
 
Oct 26, 8:24 AM (ET)

 
(AP) In this July 26, 2006, file photo, an Exxon sign glows at an Exxon station in Richmond, Va. Exxon...
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NEW YORK (AP) - Exxon Mobil Corp. (XOM) (XOM) on Thursday said its profit rose to $10.49 billion in the third quarter, making it the second-largest quarterly profit ever recorded by a publicly traded U.S. company.

The world's biggest oil company said its net income amounted to $1.77 per share for the July-September period, up from $9.92 billion, or $1.58 per share, a year ago.

The results surpassed the expectations of Wall Street analysts. On average, analysts expected the company to earn $1.59 per share in the quarter.

Revenue fell to $99.59 billion from $100.72 billion from a year ago, which saw then-record oil prices because of hurricanes Katrina and Rita.

The largest quarterly profit ever was Exxon's $10.71 billion profit in the fourth quarter of 2005.

http://apnews.myway.com/article/20061026/D8L0AI9O1.html

[BT]

What was Wal-Marts quarterly profit?

[The_Professor]

Can't remember, can you? I'm sure it was huge, though.

My take on this is that we as Americans want the Free Enterprise system to work but then when it does, we hammer the firm that is now on top. Go figure...:-)

[BT]

So is it the amount that is obscene of the company that made it?

Wal- Mart seems to be moving up the popularty list.

They just started their $4 generic program in GA. A neighbor just cut his drug bill from $140 to around $60

[Xavier_Onassis]

My take on this is that we as Americans want the Free Enterprise system to work but then when it does, we hammer the firm that is now on top.

-=========================================
Not even close.

Big Oil is not an example of free enterprise at work. Big Oil is a very few companies in collusion to fix prices.
Wal-Mart might be free enterprise at work. They do sell most stuff at a lower price than most of the competition.
Exxon-Mobil is not cheaper or better thsan the competition, just bigger.

Exxon-Mobil DESERVES to be hammered. Broken up into seventeen pieces would be appropriate.

[Universe Prince]

Big Oil is a very few companies in collusion to fix prices.

And your evidence for this is...?

[sirs]

Big Oil is a very few companies in collusion to fix prices.

And your evidence for this is...?

I can't count how many investigations have been created to determine if any collusion by the Oil Industry.  Investigation, after investigation, Congressional hearing after congressional hearing, keeps coming back with the same conclusions....no collusion.  But XO said so, so it must be "obvious"