WHAT COMPANY EARNS $1500 PER SECOND?

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In the short time it takes you to read this, Exxon-Mobil will have earned $45000 ($1500 per second). That my friends is what I call real money.

Exxon Mobil has once again reported the largest quarterly profit in U.S. history. In the second quarter of 2008, it posted a net income of $11.68 billion on revenue of $138 billion in the second quarter.

The previous corporate record was $11.66 billion, also set by Exxon in the fourth quarter of 2007.

As an oil producer, the company makes a lot of money when crude prices rise. Exxon made $10 billion from selling oil in the latest quarter, up nearly 70 percent.

Defenders of oil company profits point out that their profit margin of around 8 percent is slightly below average for S&P 500 companies, and far below the 20 percent-plus margins seen at companies such as Microsoft or Pfizer.

Source: Exxon-Mobil Profits

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Published:
08.20.08 6:55
Category:
General