Exxon Mobil said Thursday its quarterly profit increased 38 percent as oil prices rose in the first three months of the year. þþThe company reported a profit of $6.3 billion, or $1.33 a share, in the first three months of the year. That compares with $4.55 billion, or 92 cents a share, in the comparable period last year. þþRevenue rose 41 percent, to $90.25 billion. Analysts had expected earnings of $1.41 a share on revenue of $96.41 billion. þþExxon’s profit relied heavily on its exploration and production operation. Oil prices surged over the last 12 months, jumping from a low of $33 a barrel in the first quarter of 2009 to more than $80 a barrel this year. þ
Source: NY Times
