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. ching. ching.In addition to making hefty profits, Exxon also had a hefty tax bill. Worldwide, the company paid $10.5 billion in income taxes in the second quarter, $9.5 billion in sales taxes, and over $12 billion in what it called "other taxes."
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NBC's report this evening was all about "those evil oil companies." I just wish they would do some research and comparisons and report that. Microsoft, Apple and Google all have much fatter profit margins. Exxon-Mobil's profit margin, was 9.85% for the third quarter. Bank of America is getting margins of 22.3%, General Electric had 11%, and Proctor & Gamble comes in with 12.61%. Big Pharma does quite well with Pfizer at 21.5%. The surge in prices on refined products, such as gasoline, failed to keep pace with the huge jump in crude prices. Exxon's profits actually came in less than expected and their stock was down today.
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