re: The first of the oil majors, COP, cuts the dividend

quote:

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XOM still had net profits of almost $60 billion in the fourth quarter of last year beating analyst estimates by almost $7 billion.

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I'm sure you meant XOM had revenues of $59.8B in Q4 2015, not net profits. Their net profit in Q4 was $2.8B and $16.1B for the whole year. Not even Apple has had $60B in net profit in an entire year, let alone a quarter. Apple had $53.4B in net income last year.