In oil business record profits still disappoint
July 29, 2006, 12:01 pm
Filed under: Uncategorized
Filed under: Uncategorized
Chevron Corp. said Friday its second-quarter earnings soared to a new high, but that wasn’t enough to satisfy investors whose expectations have been raised by the oil industry’s recent run of eye-popping profit. The company’s shares tumbled 3.5 percent.
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Exxon Mobil Profits Jump
Do you think you pay too much? Exxon Mobil said Thursday it earned $10.36 billion in the second quarter, the second largest quarterly profit ever recorded by a publicly traded U.S. company. The earnings figure was 36 percent above the profit it reported a year ago. High oil prices helped boost the company’s revenue by 12 percent to a level just short of a quarterly record.
