In what year did ExxonMobil reach an all-time net profit of $36.1 billion, setting a world's all-time record for an industrial company?

In what year did ExxonMobil reach an all-time net profit of $36.1 billion, setting a world's all-time record for an industrial company?

• A. 2005
• B. 1999
• C. 2008
• D. 2012

Answer: (A)

This question tests recognizing a peak earnings record for a major industrial company and how market conditions drive big profits. Net profit is what a company earns after subtracting all costs and taxes from its revenue. In 2005 ExxonMobil reported about 36.1 billion in net income, which was described as a world all-time record for an industrial company at that time. That year’s high profits came from a combination of strong energy prices and healthy refining margins, amplified by ExxonMobil’s integrated operations across exploration, production, refining, and marketing. The other years listed did not set this record then, so they don’t match the peak level reached in 2005.

This question tests recognizing a peak earnings record for a major industrial company and how market conditions drive big profits. Net profit is what a company earns after subtracting all costs and taxes from its revenue. In 2005 ExxonMobil reported about 36.1 billion in net income, which was described as a world all-time record for an industrial company at that time. That year’s high profits came from a combination of strong energy prices and healthy refining margins, amplified by ExxonMobil’s integrated operations across exploration, production, refining, and marketing. The other years listed did not set this record then, so they don’t match the peak level reached in 2005.