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10/27/2005 03:52:49 PM · #1 |
//money.cnn.com/2005/10/27/news/fortune500/exxon.reut/index.htm?cnn=yes
NEW YORK (Reuters) - Exxon Mobil Corp. posted a quarterly profit of $9.9 billion Thursday, the largest in U.S. corporate history, as it raked in a bonanza from soaring oil and gas prices. |
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10/27/2005 03:57:10 PM · #2 |
| This will become a Rant in 5....4.....3....2... |
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10/27/2005 04:12:57 PM · #3 |
hmmm.
It fell short of estimates though?????????????????????
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10/27/2005 04:33:59 PM · #4 |
The HUGE profit should be taken in perspective. It only LOOKS HUGE because of the large AMOUNT. When taken as a percentage of total revenue is becomes easier to compare to other industries and/or companies.
For example: Exxon earned $9.92 billion on revenues of $100.717 billion - that yields a profit of 9.85%. Not a bad yield.But then again...
Let's take a look at CitiGroup, one of, if not the largest Financial firm in the world. They haven't announced their third quarter earnings yet, but in the second quarter they earned ( worldwide ) $5.07 billion on revenues of $20.169 billion - and THAT yields a profit of 25.15%, a figure that is more than two and a half times greater than Exxon's profit percentage.
Pick any other large multinational company you care to. Compare their PERCENTAGE of income vs. revenue and see then where Exxon falls.
The reason this looks so bad is because we are all acutely aware of the price of gasoline at the pumps. But as a percentage of total revenue, Exxon's profits are not out of line when compared with other large publicly held companies. And certainly not worthy of being called a "bonanza".
Message edited by author 2005-10-27 16:35:56. |
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10/27/2005 04:38:15 PM · #5 |
Originally posted by RonB:
Let's take a look at CitiGroup, one of, if not the largest Financial firm in the world. They haven't announced their third quarter earnings yet, but in the second quarter they earned ( worldwide ) $5.07 billion on revenues of $20.169 billion - and THAT yields a profit of 25.15%, a figure that is more than two and a half times greater than Exxon's profit percentage. |
$%#@&! late fees!
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10/27/2005 04:43:20 PM · #6 |
Hey Ron, I'd be interested in their margin for 3rd quarter last year...
Not that I'm blaming big oil for the problem. They are merely in the position to take advantage of our unsatiated appetite for SUVs. |
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10/27/2005 05:30:15 PM · #7 |
Never underestimate the dark side... it may come late, but is sure to come nevertheless...
peace.out.
Originally posted by rex:
hmmm.
It fell short of estimates though????????????????????? |
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10/27/2005 05:54:14 PM · #8 |
Originally posted by DrAchoo:
Hey Ron, I'd be interested in their margin for 3rd quarter last year...
Not that I'm blaming big oil for the problem. They are merely in the position to take advantage of our unsatiated appetite for SUVs. |
In the third quarter last year, Exxon earned $5.68 billion on revenues of $76.375 billion - a yield of only 7.4%.
Though, to be fair, this year's third quarter results include a one-time special gain realized as a result of restructureing equal to $1.62 billion. If that gain were to be removed from this year's third quarter income ( to make the comparison more equitable ), then this year's third quarter income would be reduced to a mere $8.3 billion, giving an adjusted yield of only 8.2%, a modest 10.8% increase over last year.
Still a tidy profit, but still not as large as those of the big financial instutions. |
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10/27/2005 05:59:00 PM · #9 |
| lol I haven't seen any of that 25.15% and yes the majority of our profits is from the credit sector of Citigroup business. What do people need more than gas? Money :) its only right that Citigroup would take in more profit |
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