ExxonMobil Profit Plunges 68%

Lower fuel demand

ExxonMobil, the largest US oil producer, on Oct. 29, reported a 68% drop in third-quarter profit from a year ago to $4.73 billion following lower fuel demand amid an economic slump.

It was the fourth quarterly earnings drop for the company and equivalent to 98 cents a share, down from $14.83 billion, or 2.85 dollars a share, a year earlier.

Revenue slumped 40% to $82.3 billion from $137.7 billion.

Copyright Agence France-Presse, 2009

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