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Trump Slams Chevron and Exxon Over Profits, But The Real Math Tells a Different Story
['Latintimes Staff Reporter']
Latin Times
Trump's comments landed three days after both companies posted second-quarter numbers that ranked among their strongest in years.
ExxonMobil, meanwhile, reported two separate, officially disclosed figures: GAAP earnings of $14.5 billion and adjusted earnings of $14.7 billion, according to the company's own second-quarter results release.
ExxonMobil's growth was smaller still: profit more than doubled from $7.1 billion to $14.5 billion, a roughly 105% increase.
U.S. crude prices have climbed roughly 20% since fighting resumed in late February.
What Actually Moves the Needle at the PumpFederal data complicate the idea that oil companies alone set what drivers pay.