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Article: Exxon Mobil 1Q Profit Rises
- Article from:
- AP Online
- Article date:
- April 26, 2007
CopyrightCopyright 2007 Associated Press/AP Online. This material is published under license from the publisher through YellowBrix, Alexandria, Virginia. All inquiries regarding rights should be directed to YellowBrix. (Hide copyright information)
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NEW YORK - Exxon Mobil Corp., the world's largest publicly traded oil company, said Thursday its net income grew 10 percent in the first quarter, as higher refining, marketing and chemical profit margins overcame lower crude oil and natural gas prices from a year ago.
The earnings of $9.3 billion were the company's highest ever for the first quarter and beat Wall Street expectations, but revenue slipped and fell well short of analysts's foreacsts.
Investors pushed Exxon Mobil shares to a new 52-week high of $80.49 a share in morning trading on the New York Stock Exchange. By early afternoon, the shares were up 23 cents to $80.15 a share. They've traded as low as $56.64 in the past year.