ExxonMobil reported Friday the largest US corporate annual profit in history at 40.6 billion dollars, benefiting from surging crude oil prices on strong demand, particularly in China and India.
The net profit was three percent higher than a year ago when the biggest US oil and gas firm reported a 2006 annual profit of 39.5 billion dollars, which had prompted ire over US policies said to favor big oil firms.
The multinational behemoth also posted a record fourth-quarter net profit, at 11.6 billion dollars, up 14 percent from the same period in 2006 as gains in crude.
Fourth-quarter profit per share rose to 2.13 dollars, beating analysts' forecasts of 1.95 dollars.
Full-year sales climbed by seven percent to 404.5 billion dollars, driven by a 29 percent spike in the final quarter, to 116.6 billion dollars.
Earnings per share jumped by 10 percent to 7.28 dollars from 2006, reflecting a program of share buybacks, the Irving, Texas-based company said in a statement.
No comments:
Post a Comment