07-31-2008, 10:20 AM #1
Mad at the gas companies? How about making $1K a second?
NEW YORK (CNNMoney.com) -- Exxon Mobil once again reported the largest quarterly profit in U.S. history Thursday, posting net income of $11.68 billion on revenue of $138 billion in the second quarter.
That profit works out to $1,485.55 a second.
That barely beat the previous corporate record of $11.66 billion, also set by Exxon in the fourth quarter of 2007.
07-31-2008, 12:31 PM #2
Yea, that is a ton of money. However though they are investing most of that back into their company.
Drilling deep and alternative fuel source research is expensive. Makes you think though, could they get by with only 750 a sec
07-31-2008, 12:46 PM #3
They must be doing something with that money because they sure as hell aren't paying the share holders.
I highly doubt they would take that money and use it to explore for more oil. What company in this world would do anything that would cause profit to fall. More oil would translate to lower oil prices and that would HURT their profits.
What they are doing is finding ways to keep it IN the ground. I am a glass is half full guy but come on, over $1,000 a second? I wonder how gas is sold per second....
07-31-2008, 12:54 PM #4
You need to watch that TV program Black Gold then you might have a better respect and understanding for the oil companies!
Major investments and major losses in a blink of an eye!
Be mad at the oil people but dont stop there my friend
07-31-2008, 12:56 PM #5
I actually want to change my job...
07-31-2008, 01:21 PM #6
Hey guys, "net income" is money left in the bank after all expenses have been paid. This includes drilling for new oil, investing in R&D on alternative fuel, etc.
The company had 138 Billion in sales, of which 11.68 Billion was not spent at the end of the quarter.
Exxon/Mobile can invest 10 billion a quarter (every 3 months) on R&D of alternative fuel tech and not even flinch.
07-31-2008, 02:21 PM #7
07-31-2008, 02:45 PM #8
07-31-2008, 02:46 PM #9
oh wat i would do to have what they make in just 30 seconds of time.
I can only dream
07-31-2008, 03:00 PM #10
You wouldnt want there tax rate tho
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