ExxonMobil Profit Surges to Record $14.8 Billion

Increase of 58% from last year

ExxonMobil shook off economic troubles and hurricanes to post a record third-quarter profit of $14.83 billion, up 58% from a year ago, the company said on Oct. 30. The latest report pushed up profits for the first nine months of 2008 to $37.4 billion, putting the biggest oil and gas company toward another record year for earnings.

Revenues in the July-September period jumped 34% to $13.73 billion. Third-quarter were a record $13.38 billion, up 42% from the 2007 third quarter.

The July-September financial results include the impacts of hurricanes Gustav and Ike which rocked US Gulf Coast operations. Most of the operations shuttered by the storms are back on line or are in the final phases of start-up.

"We responded quickly and effectively to maximize supplies of gasoline and other products to the marketplace," ExxonMobil chairman Rex Tillerson said.

Copyright Agence France-Presse, 2008

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