Exxon Profits Up 7%

Exxon Mobil Corp., the world's largest oil company, said Thursday that higher oil prices drove first-quarter profit up 7 percent from the prior year.

Net income rose to $8.4 billion, or $1.37 per share, in the January-March period from $7.86 billion, or $1.22 per share, a year ago. Excluding a gain on the sale of an interest in China's Sinopec, the company's year-ago profit was $7.4 billion, or $1.15 per share.