Exxon Mobil’s second quarter net income grew 41 percent as the company benefited from the higher prices for oil as well as better margins in its refining division.
The company boasted earnings of $10.68 billion, or $2.18 per share smashing last years net income of $7.56 billion, or $1.60 per share. It also produced a 36 percent increase in revenue for the three months ending on June 30th of $125.5 billion.
The results where impressive and marked its best earnings since the third quarter of 2008 but they still did not match up to analysts expectations of $2.30 per share earnings on revenue of $119.2 billion.
The largest publicly traded oil company increased its production by 10 percent during the period to take advantage of the higher oil prices.
Exxon saw increases of 60 percent in its production business and an 11 percent increase in its refining business.
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