Net income in the second quarter was $10.36 billion, or $1.72 a share, compared to $7.64 billion, or $1.20 a share, in the year earlier quarter. It was the second largest quarterly profit ever recorded by a publicly traded U.S. company.
Revenue rose to $99.03 billion from $88.57 billion in the prior-year quarter. That was short of ExxonMobil's record third-quarter revenue of $100.72 billion — which also stands as record revenue generated by any U.S. public company ever in a single quarter.
Indeed, the profit increase at Royal Dutch Shell, Europe's second-largest oil company, was even better than ExxonMobil's on a percentage basis. Second-quarter earnings jumped 40% as high oil prices offset production difficulties in Nigeria and the Gulf of Mexico. Net profit rose to $7.32 billion from $5.24 billion a year earlier. Sales rose less than 1% to $83.1 billion.
These reports come a day after another large U.S. oil company, ConocoPhillips (COP), said it earned more than $5 billion in the quarter and at a time when many drivers in the U.S. are paying $3 for a gallon of gas
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