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(Edited text of a statement. Full text can be found at www.businesswire.com)
IRVING, Texas--(BUSINESS WIRE)--Jan. 31, 2005-- Exxon Mobil Corporation (NYSE:XOM) today reported fourth quarter results. Net income of $8,420 million ($1.30 per share) was the highest quarter ever for the Corporation. Net income increased $1,770 million from the fourth quarter of 2003, which included a special item of $2,230 million relating to the settlement of a long-running U.S. tax dispute. Excluding this special item, fourth quarter earnings increased $4,000 million.
Revenues and other income for the fourth quarter of 2004 totaled $83,357 million compared with $65,952 million in 2003. Capital and exploration expenditures of $4,233 million in the fourth quarter of 2004 were down $127 million compared with last year.
ExxonMobil's Chairman Lee R. Raymond commented as follows:
"Fourth quarter earnings were $8,420 million with all business segments reporting record earnings.
"Upstream earnings were $4,887 million, an increase of ,618 million from fourth quarter 2003 results reflecting higher average crude and natural gas prices.
"Downstream earnings were $2,344 million, an increase of ,608 million from last year's fourth quarter due to strong refining margins and improved marketing results.
Source: HighBeam Research, EXXON MOBIL CORP ANNOUNCES ESTIMATED Q4 AND 2004 RESULTS.