Your Gas Dollars At Work
Exxon Mobil sets record profit in Q4. Let's hear it for unfettered capitalism! Exxon Mobil Corp. set U.S. records for annual and quarterly profits Monday as it easily topped fourth-quarter earnings forecasts. The nation's largest oil company reported net income in the fourth quarter of $10.7 billion, or $1.71 a share, compared to $8.4 billion, or $1.30 a share, a year earlier. Excluding items, Exxon Mobil ( Research ) earned $10.3 billion, or $1.65 per share, topping a consensus forecast of $1.44 a share from analysts surveyed by earnings tracker First Call. It also topped the record for quarterly profits it set in the third quarter, when it earned $9.9 billion. Shares of Exxon Mobil gained 2 percent in early-afternoon trading, helping to take the Dow into positive territory. For the year the company earned net income of $36.1 billion, or $33.9 billion excluding special items. That's up 31 percent from the $25.9 billion it earned on that basis year earlier. Exxon Mobil...