In the disastrous economy that we are facing, it is shocking sometimes to hear of companies earning a profit. And in the wake of the economic problems, Exxon Mobil has has has broken the previous record earned by a US based company of $40.6 billion (which Exxon itself earned in 2007), by reporting a profit of $45.2 billion for the 2008 fiscal year. I must say I am not all that surprised by this earning statement seeing how crude oil had hit the triple digits around mid July. The price for a barrel of oil was almost $150 around July, which was the highest it had ever been. But recently there has been a sharp decline in the prices of crude oil, with gas prices in the US falling almost 100% in the last quarter of 2008.
I guess its safe to say that only Exxon Mobil, and maybe a handful of other large public companies will be reporting such a hefty earning in their stock's and bonds.
News article;
http://news.yahoo.com/s/ap/20090130/ap_on_bi_ge/earns_exxon_mobil
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