Exxon Mobil posted a record annual profit of $55.7 billion, riding high oil prices to resurrect its status as one of America’s most profitable companies
Exxon Mobil Corp. rocketed to its highest-ever annual profit last year, riding surging oil prices to resurrect its status as one of America’s most profitable companies and erase billions of dollars of losses incurred during the pandemic.
The largest U.S. oil company turned in record annual earnings of $55.7 billion for 2022 in its quarterly earnings Tuesday, outpacing big banks, tech giants and vaccine makers. Among companies that have reported fourth-quarter earnings, only Apple Inc. and Microsoft Corp. have surpassed Exxon’s profit in fiscal 2022 so far, and only Google parent Alphabet Inc. is projected to post a higher return, according to a Wall Street Journal analysis.
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