Exxon Mobil (XOM) raked in profits and hiked spending on production during the third quarter, as oil prices soared for much of the period.
The Irving (Tex.) oil major said Oct. 26 that it had third quarter net income of $10.49 billion, or $1.77 per share, up 6% from $9.920 billion or $1.58 per share in the third quarter of 2005.
Third quarter 2005 net income included a special gain of $1.620 billion related to the restructuring of Exxon's interest in the Dutch gas transportation business. Excluding that special item, Exxon's 2006 quarter improved by 26% compared to the year ago quarter.
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Thursday, October 26, 2006
Exxon Mobil: Another Earnings Gusher
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