It's almost expected now that each quarter Exxon Mobil will produce a new record profit. Last quarter, though, as the largest publicly traded oil company in the world saw its profits decline by 27 percent, that didn't happen. Don't feel too bad for the company, though, as even in a down market, the oil giant still took in $84.7 billion, which was enough to set a new record for profit over the entire year of 2008 at $45.2 billion. Record high fuel prices from the second and third quarters of last
First, let's get the hard data out of the way: Exxon's $11.68 billion of profit last quarter was the highest ever recorded by any company, topping it's own previous record from the last quarter of '07. For those who like to keep track of such things, that is nearly $90,000 a minute; $1,500 every second. That's a lot of dough, for sure, but it is actually not as high as some investors were expecting, causing a bit of a sell-off this morning following the earnings announcement. It seems that some
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