Exxon Mobil profit up 105% to $14.53 billion, revenue $116.02B
Exxon Mobil just posted a huge win: its second-quarter profit more than doubled to $14.53 billion, up 105% from last year.
The big boost came as oil prices shot up from around $68 to $115 per barrel, thanks to global supply issues and U.S.-Iran tensions.
Revenue also jumped 42%, hitting $116.02 billion.
Exxon Mobil record production, Guyana vessel
The company hit its highest upstream production in over 20 years, excluding disruptions in the Middle East, and broke records in the Permian Basin and second-quarter diesel output.
In Guyana, Exxon launched its fifth floating production vessel, set to add even more barrels by late 2026.
They have invested $13 billion this year for future growth, announced a $1.03 a share dividend for September, and saw their stock bounce back strongly, up nearly 15% in July and about 30% so far this year.