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Started By
Message
Exxon Mobil’s Q2 income falls 52%
Posted on 7/31/15 at 11:43 am
Posted on 7/31/15 at 11:43 am
LINK
quote:
Exxon Mobil’s (XOM) second quarter net income fell 52% to $4.2 billion, becoming the latest in a string of energy companies whose profits are sinking along with oil prices worldwide.
A steep downturn in its main business -- drilling for and operating oil wells -- was largely to blame for the company's weak performance. Earnings from oil and natural gas production totaled $2 billion during the quarter, cut by more than half from $5.9 billion a year ago.
10
Posted on 7/31/15 at 11:47 am to RedRifle
But they still made $4.2 BILLION. I doubt they're worried.
Posted on 7/31/15 at 11:48 am to iAmBatman
quote:
I doubt they're worried.
Do yourself a favor and don't go into business for yourself.
It's all relative to capital invested.
Posted on 7/31/15 at 11:49 am to iAmBatman
quote:
But they still made $4.2 BILLION. I doubt they're worried.
What a loser's mentality.
Posted on 7/31/15 at 11:51 am to iAmBatman
quote:
But they still made $4.2 BILLION. I doubt they're worried.
Yea no business is ever worried about losing HALF your income.
Posted on 7/31/15 at 11:51 am to RedRifle
Capitalism at work. The product is available for cheaper. I love it.
Posted on 7/31/15 at 11:53 am to lsuhunt555
This just tells me that gas prices were artificially inflated for a long time before they finally came down. Welcome to reality, Exxon.
Posted on 7/31/15 at 11:53 am to iAmBatman
quote:This isn't particularly smart.
But they still made $4.2 BILLION. I doubt they're worried.
Posted on 7/31/15 at 11:53 am to lsuhunt555
They didn't lose anything. They managed to make $4.2 billion in a bad business environment.
Posted on 7/31/15 at 11:55 am to RedRifle
quote:
"A significant oil discovery" was made in Guyana 120 miles offshore, Exxon said.
The good general Ojukwa has no plans to nationalize the oil.
Posted on 7/31/15 at 11:56 am to RedRifle
quote:
The news today from the wires that the Saudis are going to cut back is the missing piece of the puzzle that should cause oil to trade at these levels and not go much lower. I say not go much lower because we do have Iranian oil coming in soon if the deal is signed.
LINK
Posted on 7/31/15 at 11:56 am to iAmBatman
frickin commie.
Posted on 7/31/15 at 11:56 am to iAmBatman
how much in corporate tax did Exxon pay?
Posted on 7/31/15 at 11:58 am to iAmBatman
quote:
They managed to make $4.2 billion in a bad business environment.
quote:
ExxonMobil expects to allocate $39.8 billion to capital expenditures in 2014.
You invest $40 billion in a year and net only $4.2 billion a quarter and tell me that it's ok.
Posted on 7/31/15 at 12:00 pm to The First Cut
Return on the investment of 10% is pretty good. I'd take that all day.
ETA: and that's just for the quarter. If you annualized the returns to $16.8 billion for the year, the return is about 40%. Any company in the world would take those returns.
ETA: and that's just for the quarter. If you annualized the returns to $16.8 billion for the year, the return is about 40%. Any company in the world would take those returns.
This post was edited on 7/31/15 at 12:01 pm
Posted on 7/31/15 at 12:00 pm to BigB0882
(no message)
This post was edited on 1/11/21 at 12:28 am
Posted on 7/31/15 at 12:01 pm to iAmBatman
Again, don't go into business for yourself, they invest that EVERY year.
Posted on 7/31/15 at 12:03 pm to The First Cut
Sorry you can't math good
Posted on 7/31/15 at 12:03 pm to BigB0882
quote:
artificially inflated for a long time
Exactly.
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