Exxon Reports 14 Percent Rise In Quarterly Income
DEBORAH AMOS, host:
NPR's business news starts with record profits for ExxonMobile.
The world's biggest private oil company has shattered its own records. This morning Exxon announced that its net income rose 14 percent in this recent quarter to $11.7 billion. It's more money than any other U.S. company has ever made in a single quarter.
The new record comes despite a sharp decrease in production because of problems in Venezuela and Nigeria, and despite having to pay out nearly $300 million in charges relating to the Exxon Valdez court settlement.