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.