ExxonMobil Isn't Just an Oil Company; It's an Innovative Technology Company Hiding in Plain Sight
ExxonMobil (NYSE: XOM) is one of the largest oil producers in the world. Its oil and gas business is a big moneymaker; the company earned $12.7 billion from its upstream operations during the first half of this year. So it can be easy to miss that Exxon is more than just an oil and gas company.
At its core, ExxonMobil is an innovative technology company. That means the Exxon of tomorrow isn't likely to look like the company of today, which looks much different from the one that started over a century ago. Exxon is investing heavily in building new businesses, which provides it with lots of optionality and avenues for profitable growth in the coming years.
ExxonMobil doesn't see itself as an oil company. CEO Darren Woods described the company on its recent second-quarter conference call:
Source Fool.com
