Not Everyone Is Hurting
by Craig Jennings, 10/30/2008
At least one company remains untouched by the nation's financial collapse.
Exxon Mobil Corp. smashed its own record for quarterly profits today, ringing up $14.8 billion in net income in the third quarter powered by soaring summertime crude oil prices.
Exxon Mobil's earnings, at $2.86 a share, are up 58 percent from the same period in 2007 and higher than what analysts expected, capping a week of strong profit numbers from the world's biggest oil companies, all of whom benefited from the spike in oil prices in July.
No doubt this will be a handy factoid to keep in mind when certain lawmakers agitate for certain tax cuts in the ensuing stimulus package formulation debate.
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