Exxon and Chevron report second-highest annual profits in a decade

  • Shares of energy companies rise after strong earnings from Exxon Mobil and Chevron
  • Exxon Mobil and Chevron banked their second-highest annual profits in a decade
  • Exxon netted $36 billion and Chevron $21.4 billion
  • Exxon’s profitability trails only Apple, Microsoft, Google parent Alphabet, and a few others
  • Earnings were down from record levels in 2022 but still well above historic averages

Shares of energy companies rose slightly after Exxon Mobil and Chevron reported their second-highest annual profits in a decade. Exxon Mobil netted $36 billion and Chevron $21.4 billion, solidifying their standing among America’s most prosperous companies. While their earnings were down from record levels in 2022, they still exceeded historic averages. Exxon’s profitability trailed only Apple, Microsoft, Google parent Alphabet, and a few others.

Public Companies: Exxon Mobil (Exxon), Chevron (Chevron)
Private Companies:
Key People:

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Factuality Level: 8
Justification: The article provides specific information about the earnings of Exxon Mobil and Chevron, including the net profits they made. The information is based on their financial reports and can be verified. However, the article does not provide any context or analysis of the companies’ earnings in relation to the overall energy industry or the global economy. It also does not mention any potential risks or challenges that the companies may be facing. Therefore, while the information provided is factual, the article lacks depth and comprehensive analysis.

Noise Level: 7
Justification: The article provides information on the earnings of Exxon Mobil and Chevron, but it lacks analysis or context. It does not explore the risks or consequences of their profits, nor does it provide any actionable insights or solutions. The article also does not support its claims with evidence or data, and it does not stay on topic by diving into unrelated territories.

Financial Relevance: Yes
Financial Markets Impacted: Energy companies

Presence of Extreme Event: No
Nature of Extreme Event: No
Impact Rating of the Extreme Event: No
Justification: The article pertains to financial topics as it discusses the strong earnings of Exxon Mobil and Chevron, two oil majors. However, there is no mention of any extreme events or their impact.

Reported publicly: www.marketwatch.com