Posted by
alfredlester on Monday, January 31, 2011 9:24:49 AM
HOUSTON (Reuters) – Exxon Mobil Corp reported a better-than-expected 53 percent increase in quarterly profit as an improving world economy sparked higher demand for fuel and chemicals as crude oil prices rose.
It reported a fourth-quarter profit of &&6;9.25 billion, or &&6;1.85 per share, compared with &&6;6.05 billion, or &&6;1.27 per share in the same quarter a year earlier.
Analysts on average had expected a profit of &&6;1.63 per share, according to Thomson Reuters I/B/E/S.
Oil-equivalent production rose 19 percent from the year-ago quarter, lifted by liquefied natural gas operations in Qatar, the Irving Texas company said on Monday no fax cash advances.
Revenue soared to &&6;105.2 billion from &&6;89.8 billion a year earlier.
Shares of Exxon, the world&&9;s largest publicly traded oil company, rose 1.4 percent in premarket trading.
(Reporting by Anna Driver in Houston, editing by Dave Zimmerman)
Exxon profit rises 53 percent, tops Street