Thursday, April 29, 2010

Exxon Mobil (NYSE:XOM) Earnings Up 37 Percent

Taking everything into account, Exxon Mobil (NYSE:XOM) had a good quarter, although the accrual of health care costs from the disastrous bill passed by the Democrats caused the company to under-perform estimates.

Earnings for the quarter increased 37 percent to 4.6 billion, or 92 cents a share. Analysts had looked for $1.41 cents a share, giving the impression of widely missing their numbers.

Revenue increased to $90.3 billion, or 41.1 percent over the same quarter last year.

Costs associated with the health care bill came to about $200 million, or 4 cents a share.

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