31 October 2022 | Other

Net profit of Exxon in the third quarter came close to the profit of Apple

On Friday, Exxon Mobil Corp showed a record quarterly profit, driven by rising oil and gas prices. The company's profit margin has almost reached the level of Apple.

In the third quarter, net income was $19.66 billion. This figure far exceeds Wall Street's recent forecasts, as rising fossil fuel prices allowed the company to receive a net income of $20.7 billion. This amount equals the sum of Apple's net income for the same period.

The leader among oil producers in the States reported that the level of earnings per share is now equal to 4.68 dollars, although Wall Street predicted a price of 3.89 dollars. It was due to a sharp increase in gas revenues, high fuel sales, and oil prices.

Chief Financial officer Darren Woods said to investors that the company was constantly moving forward while others cut spending and exited the market. The level of profit shows the efficiency of the company and the right direction of its development.

Chief Executive Kathryn Mikells declared that until 2023, the company will continue to repurchase shares at $30 billion and increase its profit. On Friday, it announced fourth-quarter earnings per share amounted to 91 cents, which is 3 cents bigger. Shareholders will receive $15 billion this year.



Company MarketCheese
Gold buy
Period: 03.04.2026 Expectation: 250 pips
Investing in gold with target of $4,550
Today at 09:01 AM 8
Period: 30.03.2026 Expectation: 1500 pips
SPX slid beneath six-month low amid flight from risk
Today at 07:53 AM 10
Period: 31.05.2026 Expectation: 4500 pips
Selling EURUSD from resistance
20 March 2026 43
Period: 27.03.2026 Expectation: 900 pips
USDCAD resistance looms as overheating sets in
20 March 2026 41
Period: 27.03.2026 Expectation: 1050 pips
AUDCAD thrives on monetary divergence
20 March 2026 29
Period: 31.03.2026 Expectation: 800 pips
Buying Brent crude with $115 in view
20 March 2026 48
Go to forecasts