Exxon Profit Jumps 27%; Sales Rise 26%
Exxon Mobil Corp. said fourth-quarter profit rose 27% to a record $8.42 billion as fuel sales increased and unprecedented demand spurred price gains.
Net income climbed to $1.30 a share from $6.65 billion, or $1.01, a year earlier, Irving, Texas-based Exxon Mobil said. Per-share earnings beat the average analyst estimate in a Thomson First Call survey by 23 cents. Full-year profit was $25.3 billion, the second-most in U.S. history.
Fourth-quarter sales jumped 26% to $83.4 billion.
Shares of Exxon Mobil climbed 33 cents to $51.60 on the New York Stock Exchange.
From Bloomberg News
* US Airways Group Inc., operating under Bankruptcy Court protection, said its fourth-quarter loss more than doubled to $236 million as competition pushed fares lower and jet-fuel prices rose. The net loss grew to $4.30 a share from $98 million, or $1.82, a year earlier, the Arlington, Va.-based carrier said. Sales fell 5.9% to $1.66 billion.
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