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article imageExxon Mobil sets annual Profit Record, Largest in US History

By Chris V. Thangham     Feb 1, 2007 in Business
Exxon Mobil records the largest earnings record in US history, $39.5 Billion US Dollars.
Exxon Mobil Corp. posted the largest annual profit in U.S. history Thursday, even though fourth-quarter earnings fell on lower natural gas prices and shrinking gasoline margins.
For the year, Exxon Mobil earned $39.5 billion, up from its previous record $36.1 billion in 2005. Net income in the fourth quarter slipped to $10.25 billion, or $1.76 a share, from $10.71 billion, or $1.71 a share, a year earlier
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Excluding one-time items, Exxon Mobil (Charts), the world's largest publicly traded company, earned $1.69 a share. The average earnings forecast of analysts polled by Reuters Estimates was $1.51 a share. Revenue in the quarter fell 9.4 percent to $90.03 billion.
CNN Money reports that Exxon Mobil had its record earnings in 2006, an amount of $39.5 Billion dollars, the largest recorded earnings so far in the US History. And they say it would have exceeded even this record number if it not for the low natural gas prices and shrinking gasoline margins. The last one I doubt Exxon will give it away free at a loss for the consumers. This report is like a financial report has lots of numbers if you are a shareholder. But for many of us the only number we worry about the prices in the Gas Station. I always see Exxon prices higher than other gas Stations, 5 to 10 cents higher per Gallon even though they have the same Lead Content.
Now Exxon got this record number in earnings, do you guys think they will reduce the prices of Gasoline?
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