Exxon Reports Record Profits
Why am I not surprised?
Exxon Mobil made history on Friday by reporting the highest quarterly and annual profits ever for a U.S. company.
Exxon (XOM, Fortune 500) shares gained nearly 2% in pre-market trading on the results, which were underpinned by soaring crude prices.
Exxon, the world's largest publicly traded oil company, said fourth-quarter net income rose 14% to $11.66 billion, or $2.13 per share. That's up from $10.25 billion, or $1.76 per share, in the year-ago period.
That tops Exxon's previous quarterly profit record of $10.7 billion, set in the fourth quarter of 2005, which also was a record for any U.S. corporation.