Exxon has disappointing record profit of $10.89 billion....

[cynatnite]

NEW YORK (Reuters) - Exxon Mobil Corp (XOM.N) posted a $10.89 billion first-quarter profit on Thursday but still managed to disappoint investors as weak production volumes and low refining margins blunted the impact of the record-high crude prices.

The company's quarterly earnings rose 17 percent year over year and were the second-highest in U.S. history, but the results fell short of Wall Street's expectations and the its shares dropped more than 4 percent.

Benchmark U.S. oil prices averaged a record of nearly $98 a barrel during the quarter, up about 70 percent from a year earlier.

Exxon posted record earnings of $40.6 billion in 2007, with revenue higher than the gross domestic profit of Turkey, the world's 17th-largest economy. If oil prices stay above or around $100 for the remainder of 2008, the company could beat that mark.

http://news.yahoo.com/s/nm/20080501/bs_nm/exxon_dc_6

[Hydra]

1. Bwhahaha!

:spray:

The stockholders say: "Not enough gouging! We need more!"

Runaway freight train to hell! All Aboard!

[DFW]

2. Only $10.89 billion, eh?

Fire the CEO, punish him with a paltry $2 billion parting settlement as
an indication of our displeasure over his lousy performance, and find
someone who can put the company back on its feet again.........

[Fire Walk With Me]

3. WON'T SOMEONE THINK OF THE CHILDREN!

Of the shareholders.

[Lobster Martini]

4. Damn! I bet a kitten that first quarter profits would hit $10.90 billion...(n/t).

[lapfog_1]

5. They don't do much exploration anymore

nor are they hiring new petroleum engineers.

They don't want to build new refineries in the US.

What does that tell you?

[Hydra]

9. That most of the money we're paying at the pump is going right out the door

Let's wait til they have a press release about how their profits are good for the economy.

[provis99]

6. yet the government still gives billions in subsidies to these crooks

time to nationalize the oil companies.

[Initech]

7. All I have to say is boo fucking hoo.

Hey assholes - deal with it. :nopity:

[TahitiNut]

8. Nationalize 'em. (Pay book value. Fuck 'em.)

:grr: