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Author Topic: Exxon posts record high quartly profit...again  (Read 1203 times)
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Destructor
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« on: July 31, 2008, 05:14:14 PM »

Think gas prices are too high yet? I know I sure as hell think so.

Quote
NEW YORK (CNNMoney.com) -- Exxon Mobil once again reported the largest quarterly profit in U.S. history Thursday, posting net income of $11.68 billion on revenue of $138 billion in the second quarter.

That profit works out to $1,485.55 a second.

That barely beat the previous corporate record of $11.66 billion, also set by Exxon in the fourth quarter of 2007.
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« Reply #1 on: July 31, 2008, 05:18:59 PM »

And that's a profit margin of 8.46%.

Wow.  Impressive.   Roll Eyes

FYI, as a point of reference, Microsoft has a profit margin of 29.26%.  Apple has a profit margin of 21.2%.  Why aren't we bitching about how much money they make?
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« Reply #2 on: July 31, 2008, 05:19:48 PM »

Keep in mind that out of 144 billion in revenue it's only ~8.5% profit.



...damn quick posters!  disgust



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« Reply #3 on: July 31, 2008, 05:21:33 PM »

I think what we have to consider is a profit margin of only around 8.5%.  When compared to other areas of business, just think about what gas prices could be with a comperable profit margin to say, Microsoft or Apple.  Yes, gas prices are a bit high, but not as high as they could be.
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« Reply #4 on: July 31, 2008, 05:28:36 PM »

Quote from: PeteRock on July 31, 2008, 05:21:33 PM

I think what we have to consider is a profit margin of only around 8.5%.  When compared to other areas of business, just think about what gas prices could be with a comperable profit margin to say, Microsoft or Apple.  Yes, gas prices are a bit high, but not as high as they could be.

Considering that you are personally responsible for about 20 percent of that profit due to your constantly driving back and forth between the salon, the beauty supply store and the day spa in northern Arizona (you boycotted the one near your house because "the fools tried to use an off brand exfoliate and didn't think i'd know the difference!"), I don't think you have any room to comment on this article.
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« Reply #5 on: July 31, 2008, 05:31:27 PM »

Thank you Exxon for providing me with excellent returns and a nice dividend. Oh, and thanks for the DRIP as well!
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« Reply #6 on: July 31, 2008, 05:33:35 PM »

There's plenty of blame to go around, and a large part of it goes towards us ... the American drivers. We drive gas guzzling SUV's, Ford F150's and 250's, Hummers, etc. It's taken a quadrupling in gas prices to get us to even begin to change our driving habits, And it feels like we'd snap back to the old, environmentally destructive ways the first chance we get.

What I don't get is after all the amazing technological advancements we've made in the past century, we're still using a 100 year old technology (combustion engine) for our basis of transportation. Surely we could've come up with a better solution by now.

Where are all the alternative energy source techs?
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« Reply #7 on: July 31, 2008, 05:34:46 PM »

Quote from: Jeff Jones on July 31, 2008, 05:33:35 PM

What I don't get is after all the amazing technological advancements we've made in the past century, we're still using a 100 year old technology (combustion engine) for our basis of transportation. Surely we could've come up with a better solution by now.

Where are all the alternative energy source techs?

Interesting question.
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« Reply #8 on: July 31, 2008, 05:40:20 PM »

I was just thinking the other day that I might be in the market for a hybrid SUV, since a little dudette is coming soon. So I saw this beauty:

http://www.hybridsuv.com/mazda-tribute/2008-mazda-tribute-hybrid-review

29 MPG city, 34 hwy

I was sold. Then I saw that they've only got a production run of 350 vehicles and only selling in California. WTF?!? Who the hell thought it would be a good idea to make a limited amount of what the public wants?
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"Oh yeah?" Bush replied. "50% of the people were wrong."
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« Reply #9 on: July 31, 2008, 05:54:42 PM »

Quote from: pr0ner on July 31, 2008, 05:18:59 PM

And that's a profit margin of 8.46%.

Wow.  Impressive.   Roll Eyes

FYI, as a point of reference, Microsoft has a profit margin of 29.26%.  Apple has a profit margin of 21.2%.  Why aren't we bitching about how much money they make?

Well Ive never bought Apple and I dont have to buy MS, but I do have to buy gas smile
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« Reply #10 on: July 31, 2008, 06:00:54 PM »

Huge profit numbers, but they actually missed expectations, hitting the stock for losses of 3%+, taking down most of the energy sector, and having an overall depressing effect on the entire market today.  Guess they needed $2000 a second smile
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« Reply #11 on: July 31, 2008, 06:08:18 PM »

Quote from: pr0ner on July 31, 2008, 05:18:59 PM

FYI, as a point of reference, Microsoft has a profit margin of 29.26%.  Apple has a profit margin of 21.2%.  Why aren't we bitching about how much money they make?

for some reason I highly doubt both those companies are costing people around 100/month just to do stuff they NEED to do. Last time I checked I didn't have to fill up my car with MS to get to work and the store.

There is ZERO reason gas prices should be this high and everyone fucking knows it.
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« Reply #12 on: July 31, 2008, 06:08:31 PM »

Quote from: kathode on July 31, 2008, 06:00:54 PM

Huge profit numbers, but they actually missed expectations, hitting the stock for losses of 3%+, taking down most of the energy sector, and having an overall depressing effect on the entire market today.  Guess they needed $2000 a second smile

I am constantly amazed at how this all works.

ZOMG you made more money than anyone ever has!!!
We thought you'd do more.  EPIC FAIL.
STOCK OWNED.
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« Reply #13 on: July 31, 2008, 06:12:16 PM »

Quote from: jersoc on July 31, 2008, 06:08:18 PM

There is ZERO reason gas prices should be this high and everyone fucking knows it.

There's a reason, or several even, but you may not like it.
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« Reply #14 on: July 31, 2008, 06:18:35 PM »

http://www.usnews.com/articles/business/economy/2008/02/01/exxons-profits-measuring-a-record-windfall.html

Quote
Exxon Mobil's profits are 80 percent higher than those of General Electric, which used to be the largest U.S. company by market capitalization before Exxon left it in the dust in 2005. The new economy? Microsoft earns about a third as much money. And next to Exxon, the world's largest retailer, Wal-Mart, looks like a quaint boutique, with annual profits of about $11 billion.

The oil industry urges people to look beyond its profits to its profit margin: about 7.6 percent of revenues late last year. That's not much higher than the 5.8 percent profit margin for all U.S. manufacturing, and if you exclude the financially troubled auto industry from that analysis, the oil industry actually appears less profitable than most manufacturers, which were earning 9.2 cents on every dollar of sales.

However, profit margins across industries vary greatly based not on how well each business is doing but how capital- or labor-intensive it is. Oil is among the most capital-intensive. But look at the oil industry's profits compared with shareholder equity it has available for investment. The U.S. Energy Information Administration's most recent analysis of the oil industry's performance, released just last month, showed oil industry return on equity of 27 percent—about 10 points higher than that of other manufacturers. And it has been higher throughout this recent era of high world oil prices, just as it was back during the oil shock that hit in 1980.

Exxon's profit margin has increased every year for the last ten years.
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« Reply #15 on: July 31, 2008, 06:32:55 PM »

Quote from: jersoc on July 31, 2008, 06:08:18 PM

Quote from: pr0ner on July 31, 2008, 05:18:59 PM

FYI, as a point of reference, Microsoft has a profit margin of 29.26%.  Apple has a profit margin of 21.2%.  Why aren't we bitching about how much money they make?

for some reason I highly doubt both those companies are costing people around 100/month just to do stuff they NEED to do. Last time I checked I didn't have to fill up my car with MS to get to work and the store.

There is ZERO reason gas prices should be this high and everyone fucking knows it.

Regardless of what is being sold, it's how a free market works.  In other words, unless you want the government to get involved, gas is going to cost what the market will handle, not be determined by what you think is fair because people "need" it.  Same with food, housing, etc. 

If people think oil industry profits are unacceptable, make the changes in your life you need to reduce your use of the product.  Are you taking advantage of mass transit?  Do you really need to jump in your car for a quick trip to go buy ice cream?  Could you better plan your driving to be more efficient?  Do you own a car that makes sense for the type of use you really need?

Edit: Why isn't this in P&R?

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« Reply #16 on: July 31, 2008, 07:06:49 PM »

Quote from: leo8877 on July 31, 2008, 06:08:31 PM

I am constantly amazed at how this all works.

ZOMG you made more money than anyone ever has!!!
We thought you'd do more.  EPIC FAIL.
STOCK OWNED.
On the same note, Nintendo is down 10% today smile  It's mainly about expectations and outlook.  Fail to meet expectations and you'll get hurt, but post a bad outlook for future earnings and you'll get punished.  People will take their money and run to safer waters.  Exxon cited rising costs and reduced production.  Nintendo's forecasts failed expectations as well. 
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« Reply #17 on: July 31, 2008, 08:13:58 PM »

Quote from: kathode on July 31, 2008, 07:06:49 PM

Quote from: leo8877 on July 31, 2008, 06:08:31 PM

I am constantly amazed at how this all works.

ZOMG you made more money than anyone ever has!!!
We thought you'd do more.  EPIC FAIL.
STOCK OWNED.
On the same note, Nintendo is down 10% today smile  It's mainly about expectations and outlook.  Fail to meet expectations and you'll get hurt, but post a bad outlook for future earnings and you'll get punished.  People will take their money and run to safer waters.  Exxon cited rising costs and reduced production.  Nintendo's forecasts failed expectations as well. 

Yeah like I think Apple always has soft forcasts and they get punished.  They they sell a trillion iPod and stock goes up.  Then soft forcast again, rinse repeat....
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« Reply #18 on: July 31, 2008, 08:33:52 PM »

Quote from: raydude on July 31, 2008, 05:40:20 PM

Then I saw that they've only got a production run of 350 vehicles and only selling in California. WTF?!? Who the hell thought it would be a good idea to make a limited amount of what the public wants?
It's basically the same thing as a Ford Escape Hybrid.
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« Reply #19 on: August 01, 2008, 01:36:17 PM »

Quote from: Michael Douglas in Wall Street
Gordon Gekko: The point is, ladies and gentlemen, that greed, for lack of a better word, is good. Greed is right. Greed works.
fwiw, I cover parts of the oil industry (base oils, motor oil etc.) and deal with ExMo on and off as a reporter. They are both very professional, and -- because they're one of the world's largest privately-owned companies -- prone to just clam up if I'm asking about something negative.

Once when I dealt with a smaller publicly owned refiner, I remember being surprised how candid the public affairs spokesman was about something that I didn't expect them to even get back to me about.

What saddens me generally about US Business these days is it's basically about doing everything as cheaply as possible. And if that means outsourcing everything to other countries that don't allow unions and don't require costly worker safety/environmental standards, and importing everything in sight because other countries make everything cheaper, well... greed is good.  Roll Eyes I mean, heck, you even see it in game publishers ferreting game development out to overseas dev houses that presumably pay their people peanuts.
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