Exxon Mobil's Gusher

Executives at the Irving, Tex., headquarters of ExxonMobil (XOM) probably didn't know whether to laugh or cry. On Apr. 27, the oil giant reported that first-quarter net income surged 14%, to $8.4 billion, as revenues increased 8%, to $89.0 billion. The profits were a record for the company and the fifth-highest ever reported by any public company.

Nevertheless, Exxon, under newly anointed Chief Executive Officer Rex W. Tillerson, managed to disappoint plenty of people. Wall Street was unhappy that the results didn't match analysts' consensus estimates, much less exceed the expected mark, as the company has done regularly in recent quarters. In addition, many consumers, already bemoaning the $400 million retirement package for former CEO Lee Raymond, saw the earnings as more proof that Exxon and other oil companies are gouging them at the pump.