Exxon Mobil posts biggest US quarterly profit ever

[October 30, 2008]  HOUSTON (AP) -- Exxon Mobil Corp., the world's largest publicly traded oil company, says it shattered its own record for the biggest profit from operations by a U.S. corporation, earning $14.83 billion in the third quarter.

Bolstered by this summer's record crude prices, the Irving, Texas-based company said Thursday that net income jumped nearly 58 percent, or $2.86 a share in the July-September. That compares with $9.41 billion, or $1.70 a share, a year ago.

The previous record for U.S. corporate profit was set earlier this year, when Exxon Mobil earned $11.68 billion in the second quarter.

Revenue rose 35 percent to $137.7 billion.

On average, analysts expected the company to earn $2.39 per share in the latest quarter on revenue of $131.4 billion.

Shares fell 18 cents to $75 in premarket trading.

[Associated Press; By JOHN PORRETTO]

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