Exxon’s Profit Jumps Most Since 2003 Amid Oil Price Surge

Exxon Mobil Corp., the world’s largest company by market value, posted its biggest first-quarter profit increase in eight years as surging energy demand and supply concerns pushed crude prices to a 30-month high.

First-quarter net income rose 69 percent to $10.7 billion, or $2.14 a share, from $6.3 billion, or $1.33, a year earlier, Irving, Texas-based Exxon said today in a statement. Per-share profit was 10 cents higher than the average of five analysts’ estimates compiled by Bloomberg.