Exxon Profit Rises Most Since 2003 as Output Climbs

Exxon Mobil Corp. posted its biggest profit increase since 2003, exceeding analysts’ estimates, as rising production helped the largest U.S. oil company take advantage of gains in energy prices.

Second-quarter net income jumped 91 percent to $7.56 billion, or $1.60 a share, from $3.95 billion, or 81 cents, a year earlier, Irving, Texas-based Exxon said today in a statement. Per-share profit was 15 cents higher than the average of 17 analysts’ estimates compiled by Bloomberg.