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Mon May 7, 2012
Exxon Back At No. 1 On 'Fortune 500' List; Wal-Mart Knocked To No. 2
After two years in second place, Exxon Mobil is back on top of the Fortune 500.
With 2011 revenues of $452.9 billion, the oil and energy giant edged out Wal-Mart Stores, which brought in $447 billion, Fortune magazine just reported.
Wal-Mart took the top spot from Exxon Mobil two years ago and held on to it again last year. Soaring oil prices are a major factor in Exxon's move back to No. 1.
Exxon far outpaced Wal-Mart when it comes to profits: Earning $41.1 billion to Wal-Mart's $15.7 billion.
Other Fortune 500 highlights:
-- Bank of America was the only company to fall out of the top 10, slipping from No. 9 a year ago to No. 13. But it had a profitable year: earning $1.4 billion in 2011, following a $2.2 billion loss the year before.
-- Hewlett-Packard moved back into the top 10, rising one notch to No. 10.
-- General Motors moved up three spots, to No. 5, with revenues of $150.3 billion in 2011.
-- Apple came in at No. 17 on the list. But it was No. 3 in terms of profits — earning $25.9 billion on revenues of $108.2 billion.
-- Chevron is No. 3 on the Fortune 500, with $245.6 billion in revenues, but is No. 2 in terms of profits, with $26.9 billion last year.
-- Microsoft's $69.9 billion in revenues placed it at No. 37 on the Fortune 500 list. But it earned $23.2 billion last year, making it No. 4 in terms of profits.
-- Ford, which ranked No. 9 among the 500 thanks to its $136.2 billion in revenues, earned $20.2 billion (fifth-most among the companies).