From the Boston Herald:
Oil giant Exxon Mobil Corp. on Thursday posted the largest annual profit by a U.S. company – $39.5 billion – even as earnings for the last quarter of 2006 declined 4 percent.
The 2006 profit topped the previous record of $36.13 billion which Exxon set in 2005.
Revenue at the world’s largest publicly traded oil company rose to $377.64 billion for the year, surpassing the record $370.68 billion that Exxon posted in 2005.
Exxon Mobil’s record annual earnings followed a year of extraordinarily high energy prices as crude oil topped $78 a barrel in the summer – driving up average gasoline prices in the United States to more than $3 a gallon. Prices retreated later in the year.
Way to go, Exxon. —MEGHANN MARCO