« Q&A: Fair Isaac (FIC) | Main | Business Week Takes another Shot at Dell »

ExxonMobil (XOM) reported third-quarter earnings of nearly $10 billion and Royal Dutch Shell reported earnings of $9.4 billion. These numbers are gigantic. I doubt any corporations have ever posted numbers that larger.

Exxon Mobil had sales of over $100 billion for the quarter. Most large corporations don’t do that kind of business for an entire year. Keep in mind that daily oil production fell from last year. From July through September, ExxonMobil made on average, $1 million in profit every 13 minutes. The company’s quarterly dividend payment comes to nearly $2 billion.

The stock is higher in today’s session, but XOM has not been treated well lately. The shares have lost about 13% in the last month. I wouldn't be surprised to see $50 oil by Christmas.

Posted by edelfenbein at October 27, 2005 10:32 AM