Exxon Mobil Posts Second Highest Quarterly Profit Ever

Thanks in large part to this summer’s record high oil and gasoline prices, Exxon Mobil posted a quarterly profit of $10.49 billion – the second highest quarterly profit for a publicly traded American company ever. 

Exxon Mobil’s third quarter runs from July through September, during which time oil prices began to slide off of record highs.  Had oil stayed relatively stagnant or declined at a slower pace, this past quarter most certainly would have been the most profitable quarter on record.

And who has the highest quarterly profit ever?

That would also be Exxon Mobil, who posted a quarterly profit of $10.71 billion during the fourth quarter of 2005.

According to an article posted on Yahoo! Finance, Exxon Mobil’s third quarter revenue of $99.59 billion is greater than the annual gross domestic product (GDP) of both the United Arab Emirates ($98.1 billion) and Kuwait ($52.76 billion).

Comments

  1. Send me money says

    Not fair, send me a hundred bucks or something…

  2. WTF!!??!!??
    I mean SERIOUSLY!

  3. republicans lowered the gas prices as an election strategy says

    I for one, welcome our new liquid overlords….

  4. McGough? What do you mean “WTF?”

    Let me guess….you are thinking something about excessive or windfall profits aren’t you?

    Before you start getting angry about that amount of money remember the percentage of revenue that profit is and realize that Exxon has still not gone over the average profit range to make a successful business.

    Long live capitalism!!!!!

  5. RE: Before you start getting angry about that amount of money remember the percentage of revenue that profit is and realize that Exxon has still not gone over the average profit range to make a successful business.

    Huh?

    I am sure there are plenty of successful businesses that would love a 10% annual profit ($10.71 B profit on $99.59 B revenue).

  6. Also keep in mind that the national state and federal sales tax average is 43.2%.

    So while you were digging deeper into your pocket at the pump the state and federal government were getting paid.

    So yes, Exxon Mobile may be reporting excellent quartly profits but there is no mention as to how much money the goverment (state and federal) are making (keep in mind the government pockets just under half of what you pay).

  7. Johnny Sheridan says

    You’re falsely equating “profits” with “taxes”. When Exxon posts 10 billion in profits that means people are dancing around bags of money and spending them on hookers and cocaine. When the government taxes 40-50-whatever cents per gallon on gas, the money goes to things like ROADS and FREEWAYS. There’s a considerable difference in that you don’t get to enjoy Exxon’s profits unless you are a shareholder.

  8. So Exxon makes more money then some small countrys, right? does that mean that they could, if they wanted to buy out every buissness in said small countrys and effectively own a small country or two?

  9. Re.: You’re falsely equating “profits” with “taxes”. When Exxon posts 10 billion in profits that means people are dancing around bags of money and spending them on hookers and cocaine. When the government taxes 40-50-whatever cents per gallon on gas, the money goes to things like ROADS and FREEWAYS. There’s a considerable difference in that you don’t get to enjoy Exxon’s profits unless you are a shareholder.

    That’s funny. When I think of people dancing around bags of money and spending it on hookers and cocaine, politicains come immediately to mind.

    Exxon Mobil earned $1.28 per share of common stock in the year ended September 30, 2006. They paid dividends (that is, they gave out money to their shareholders) in the amount of $1.14 per share for the 12 months ended December 31, 2005. That is, they distribute most of their profits to shareholders.

    Who are these shareholders? 52% are Institutional and Mutual Funds. The largest Mutual Fund holder is the Vanguard 500 Index Fund, who holds .95% of the outstanding shares. You can buy shares of Exxon Mobil yourself or through any number of Mutual Funds. The largest institutional holder ins Barclays Global Investors UK Holdings at 4.06%, followed by State Street Corporation at 3.17%.

    The total percentage owned by Insider and 5% Owners is ….. 0%.

  10. Brian Carr says

    Yep – and Exxon would probably run the countries more effiently than many of the current governments.

  11. $400 billion a year?New tax provisions that tax them at 11% of generated revenue and funds them with tax incentives worth another 15% ?
    Gotta get me an oil company!!!!

  12. Re.: Gotta get me an oil company!!!!

    Well then, you should (see my post above)!

Trackbacks

  1. […] Exxon Quarterly Profit Exceeds GDP of Kuwait, United Arab Emirates To celebrate, Exxon announces 3 days of free gas. Not. […]

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