ExxonMobil Q2 Profit Hits $10.68 Billion

July 28, 2011
Increase of 41%

ExxonMobil, the world's largest energy company, on July 28 reported a second-quarter profit of $10.68 billion, an increase of 41% from a year ago, but short of analysts' expectations.

Revenues for the April-June period were $125 billion, up 36% from the same period last year amid surging prices for crude oil. Analysts had expected revenues of $121.4 billion.

Earnings were $2.18 per diluted common share, falling short of analysts' consensus forecast of $2.33.

The Texas-based oil and gas giant said it had spent a record $10.3 billion on capital expenses and exploration, cutting into profit margins.

"ExxonMobil recorded strong results during the second quarter of 2011, while investing at a record level of over $10 billion to develop new supplies of energy to meet growing world demand," said CEO Rex Tillerson.

ExxonMobil is the world's largest publicly traded company in terms of market capitalization. It has upstream oil and gas projects in countries as far afield as Russia, Canada, Qatar, Nigeria and Papua New Guinea.

Copyright Agence France-Presse, 2011

See Also

Popular Sponsored Recommendations

Discover How an Eye Tracking Study Improves Training Procedures

Oct. 29, 2023
Did you know that your training processes can be streamlined by visualizing and analyzing key skills within your employee base? Find out how we use eye tracking to capture advanced...

The Ultimate Ecommerce Excellence Checklist

Oct. 2, 2023
Scaling ecommerce operations is no easy task when your business is moving fast. Assess your current ecommerce maturity level and set optimization priorities with this practical...

Lean Manufacturing in the Age of the Industrial Internet

Oct. 24, 2023
Read how advanced MES capabilities can help you improve your labor utilization, reduce WIP, and optimize your production. Download the white paper today.

3D Printing a More Efficient Factory Floor

Nov. 16, 2023
Today’s additive manufacturing platforms make it simple to print a wide range of high-performing industrial parts as soon as possible and right where you need them — unlocking...

Voice your opinion!

To join the conversation, and become an exclusive member of IndustryWeek, create an account today!