ExxonMobil Overtakes Walmart in Sales

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ExxonMobil Overtakes Walmart in Sales

NEW YORK -- Exxon Mobil Corp. scored a double victory among 2009 Fortune 500 corporations—taking the top rank in both sales and profits on the magazine’s popular annual listing.

Irving, Texas-based ExxonMobil recorded sales of $442.85 billion last year, an increase of nearly 19 percent from 2007. Bentonville, Ark.-based Walmart, which held the top spot for six of the past seven years, posted $405.6 billion in sales, a 7-percent gain during a difficult economy for retailing.

Oil companies continued to hold many of the top positions on the Fortune 500, as last summer's skyrocketing oil and gas prices more than offset their plunge later that fall. Chevron Corp. held onto third place with $263.16 billion in revenue, up 25 percent. ConocoPhillips climbed one notch to fourth, with $230.76 billion in revenue.

Exxon Mobil was also No. 1 in profits, earning $45.2 billon. Chevron was second in profits behind Exxon, posting record annual earnings of $23.9 billion. With $13.4 billion in earnings, Walmart ranked fifth in profits on its 5-percent gain.

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