Exxon Mobil (NYSE:XOM) announced that its profit for the fourth quarter increased by two percent, mainly due to higher prices for crude oil. The company reported earnings of $9.4 billion, or $1.97 per share, versus $9.25 billion, or $1.85 per share, in the same period last year. Revenue increased by 16 percent to $121.61 billion.
Shares are slightly lower in early trading.
Pfizer (NYSE:PFE) announced that its fourth quarter profit fell by half mainly due to one time charges, and the expiration of its patent on blockbuster cholesterol drug Lipitor. Net income was $1.44 billion, or 19 cents per share, down from $2.89 billion, or 36 cents per share, in the same period last year. Adjusted income was $3.86 billion, or 50 cents a share, versus $3.74 billion, or 47 cents a share, in the same period last year. Revenue came in at $16.7 billion, down from $17.4 billion in the same period last year. For the coming year, Pfizer forecast 2012 earnings per share of $2.20 to $2.30, and revenue of $60.5 billion to $62.5 billion.
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