Exxon Mobil Corporation, the world's largest publicly traded oil company, today reported a surge in quarterly profit, capping a record year dominated by soaring oil and gas prices.
Net income in the fourth quarter was $10.7 billion, or $1.71 a share, compared to $8.4 billion, or $1.30 a share, a year earlier.
Excluding exceptional items, the company earned $1.65 per share. Analysts, on average, expected the oil company to earn $1.45 per share.
Crude oil prices rose about 40% last year, driven up by tensions in oil-producing countries like Iran and Nigeria and tight supplies.
