As a result of enhanced and further strengthened refining and chemicals we watch today Exxon Mobil Corp and Chevron Corp; the two largest oil companies, reporting higher and better than projected fourth quarter earnings along with lower than projected results posted by Merck & Co.
If truth be told starting by Exxon Mobil Corp, which is as know is the the world’s largest energy company, it actually reported fourth-quarter cheerfully net earnings of 9.95 billion, or 2.20 a share, up from 9.4 billion, or 1.97 a share, earned in the year-earlier period.
Plus within the same quarter the oil giant repurchased 59 million common shares at a gross cost of 5.3 billion and forecast that stock buybacks to equal 5 billion in the first quarter of next year.
Now heading to the second oil giant; Chevron Corp, it released cheerful results as well for its forth quarter reporting a net income grew to 7.2 billion, or 3.70 per share, from 5.1 billion, or 2.58 per share, a year earlier, knowing that the latest profit included a 1.4 billion one-time gain.
Furthermore Chevrons refining operations made a profit of 925 million, compared with a loss of 61 million a year before.
As for the pharmaceutical giant; Merck & Co, it unfortunately posted lower than projected results for the fourth quarter; net earnings of 1.4 billion, or 46 cents a share, off from 1.51 billion, or 49 cents, earned in the final three months of 2011.
Moreover Merck’s quarterly sales fell to 11.74 billion from 12.29 billion in the year-earlier period and projected and 2013 adjusted earnings in a range of 3.60 to 3.70 a share.