Profits sag at Exxon and Eastern Airlines

Exxon, the world's largest oil company, said decreased demand for oil products cut first-quarter profits this year by 22.5 percent and revenues by 10. 6 percent from the same period in 1981. Exxon reported profits of $1.24 billion on revenues of $27.11 billion in the latest quarter, compared with profits of $1 .60 billion on $30.32 billion in revenues for the first quarter of last year.

And another corporate behemoth announced big losses Tuesday. Eastern Airlines blamed the recession and discount fare competition on New York-to-Florida routes for a $51.4 million first-quarter loss. Eastern had a $4.1 million profit during the same period last year.

Share this story:

We want to hear, did we miss an angle we should have covered? Should we come back to this topic? Or just give us a rating for this story. We want to hear from you.

Loading...

Loading...

Loading...

Save for later

Save
Cancel

Saved ( of items)

This item has been saved to read later from any device.
Access saved items through your user name at the top of the page.

View Saved Items

OK

Failed to save

You reached the limit of 20 saved items.
Please visit following link to manage you saved items.

View Saved Items

OK

Failed to save

You have already saved this item.

View Saved Items

OK