Exxon posts new profit record

Exxon posts new profit record

It was record profits again for Exxon Mobil. The company reported the largest quarterly profit in U.S. history posting a net income of $11.68 billion on revenue of $138 billion in the second quarter.

The profit works out to $1,485.55 a second.

That beat out the previous record of $11.66 billion also set by Exxon. Exxon Mobil owns the record for at least the top six most-profitable quarters for a U.S. company, as well as the largest annual profit.

The record-setting results were largely expected, given that crude prices in the second quarter were nearly double what they were a year ago. Natural gas prices were significantly higher, too.

But investors expected even bigger profits Thursday, especially after Europe’s Royal Dutch Shell reported a 33 percent jump in second-quarter earnings to $11.6 billion, which fell just shy of Exxon’s own record earnings from 2007.