NEW YORK (AP) — Exxon Mobil was swimming in profits the last few months, reporting Friday that it brought in a record $17.85 in net income during the second quarter, a period in which Americans struggled with painfully high prices at the pump.
The Irving, Texas, company increased oil and gas production as crude prices hovered above $100 a barrel.
Revenue skyrocketed to $115.68 billion in revenue, up from $67.74 billion during the same quarter last year.
Natural gas and liquefied natural gas prices area also elevated due to Russia's invasion of Ukraine and ensuing sanctions against Russia, a major supplier of natural gas.
Exxon earned $4.21 per share, exceeding analyst expectations of $4.02 per share, according to analysts polled by Factset.