ExxonMobil Profit Soars 55% in Q3

Oct. 28, 2010

Net earnings were $7.35 billion compared to $4.73 billion last year

Driven in part by higher energy prices and rising oil production in Qatar, ExxonMobil said on Oct. 28 that its profit soared 55%.

The energy giant reported net earnings of $7.35 billion, a strong advance from the $4.73 billion posted in the 2009 third quarter that exceeded market expectations.

Revenue surged 16% to $95.29 billion.

ExxonMobil, the world's largest non-state oil company, said the strong performance was due to higher crude oil and natural gas prices, improved refining margins, and solid chemical results.

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