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Originally Posted by Chris F.
I can't say I agree with Ben on his points, but he wrote a nice article.
I'd like Ben to explain to me why the oil co.'s had such a great quarter if it wasn't due to price gouging?
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How did they have such a great quarter?
Exxon Mobil had a P/E of 11.20.
Cisco had a P/E of 19.79.
GE was 20.34
VZ was 10.14
SBC was 21.08
BellSouth was 12.35
Target was 21.39
Walmart was 19.31
Sears was 14.60
Time Warner was 31.90
Before you say let’s just talk profit, ok.
Exxon Mobil had a net income in the third quarter of 9.92 billion with revenues of 100 billion. That is a 10% profit, which is not outrageous.
Let’s use GE, which at onetime was larger than Exxon Mobil. High energy prices pushed Exxon Mobil ahead. GE has revenues of 41.9 billion. Their net earnings were 4.7 billion. GE actually had a larger profit based upon percentages.