POSTED: Thursday, July 26, 2012 - 10:30am
UPDATED: Thursday, July 26, 2012 - 10:44am
NEW YORK (CNNMoney) — Exxon Mobil made a profit of $15.9 billion in the second quarter of 2012, the oil company said Thursday.
The massive number -- which would be by far the highest quarterly profit ever -- included $7.5 billion from "divestments and tax-related items"
Excluding that special credit, the company made $8.4 billion, down 21% from the $10.7 billion Exxon made in the same period last year as falling oil and natural gas prices cut into earnings.
The $7.5 billion boost came partly from the sale of refining and chemical operations in Japan.
Exxon said its combined production of oil and gas decreased 5.6% from year-earlier levels -- a worrying trend for investors.
The company reported revenue of $127.4 billion, giving it a profit margin of just over 12%.
Shares of Exxon Mobil dipped 1.3% in premarket trading.
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