Dominating Oil Giant Doubles Income, up 91% to $7.56 Billion

Posted by on Jul 29, 2010 | No comment

Exxon Mobil Corp. (NYSE: XOM) released its second-quarter earnings this morning before the opening bell, reporting that  second-quarter income nearly doubled to $7.56 billion from $3.95 billion, as oil prices regaining ground lost in the past year.

This near 100% increase in income is Exxon’s highest quarterly profit since the fourth quarter of 2008. Exxon had previously set a record for quarterly earnings of $14.83 billion in the third quarter of 2008 after oil prices rocketed to almost $150 per barrel. However, oil prices began dropping heavily as the global recession advanced, resulting in Exxon revenue and profits dropping dramatically, hitting a six-year low in the second quarter of 2009.

One of the world’s largest oil companies said earnings rose to $1.60 per share in the second quarter, from 81 cents per share, in the year-ago period. Exxon Mobile also saw revenue increase 24% to $92.5 billion. Analysts expected quarterly earnings of $1.46 per share with revenue topping out around $98.5 billion. Exxon’s earnings news helped the company’s PPS open almost $1.00 higher than its close for Wednesday at $60.91, with shares continuing to climb in mid-morning trading.

About BeaconEquity.com

BeaconEquity.com is committed to producing the highest-quality insight and analysis of small cap stocks, emerging technology stocks, hot penny stocks and helping investors make informed decisions. Our focus is primarily on the underserved OTC stocks market, or “penny stock” market, which has traditionally been shunned by Wall Street. We have particular expertise with renewable energy stocks, biotech stocks, oil stocks, green energy stocks and internet stocks. There are many hot penny stock opportunities present in the OTC market everyday and we seek to exploit these hot stock gains for our members before the average daytrader is aware of them.

Beacon Equity Group Disclaimer

This newsletter is a paid advertisement and is neither an offer nor recommendation to buy or sell any security. We hold no investment licenses and are thus neither licensed nor qualified to provide investment advice. The content in this report or email is not provided to any individual with a view toward their individual circumstances. Beaconequity.com is a wholly-owned subsidiary of BlueWave Advisors.

While all information is believed to be reliable, it is not guaranteed by us to be accurate. Individuals should assume that all information contained in our newsletter is not trustworthy unless verified by their own independent research. Also, because events and circumstances frequently do not occur as expected, there will likely be differences between the any predictions and actual results. Always consult a real licensed investment professional before making any investment decision. Be extremely careful, investing in securities carries a high degree of risk; you may likely lose some or all of the investment.

About BeaconEquity.com

BeaconEquity.com is committed to producing the highest-quality insight and analysis of small-cap stocks, emerging technology stocks, hot penny stocks and helping investors make informed decisions. Our focus is primarily OTC stocks in the stock market today, which have traditionally been shunned by Wall Street. We have particular expertise with renewable energy stocks, biotech stocks, oil stocks, green energy stocks and internet stocks. There are many hot penny stock opportunities present in the OTC market everyday and we seek to exploit these hot stock gains for our members before the average daytrader is aware of them.

Beacon Equity Group Disclaimer

This newsletter is a paid advertisement and is neither an offer nor recommendation to buy or sell any security. We hold no investment licenses and are thus neither licensed nor qualified to provide investment advice. The content in this report or email is not provided to any individual with a view toward their individual circumstances. Beaconequity.com is a wholly-owned subsidiary of BlueWave Advisors.

While all information is believed to be reliable, it is not guaranteed by us to be accurate. Individuals should assume that all information contained in our newsletter is not trustworthy unless verified by their own independent research. Also, because events and circumstances frequently do not occur as expected, there will likely be differences between the any predictions and actual results. Always consult a real licensed investment professional before making any investment decision. Be extremely careful, investing in securities carries a high degree of risk; you may likely lose some or all of the investment.

Copyright Beacon Equity @ 2012