NEW YORK (CNN/Money) -
Oil, money and drugs dominated the FORTUNE 500's list of most profitable companies for 2004.
Big oil had a healthy stake on the list with Exxon Mobil (XOM: Research, Estimates) capturing the No. 1 spot at $21.5 billion. Rivals ChevronTexaco (CVX: Research, Estimates) and ConocoPhillips (COP: Research, Estimates) slid in at Nos. 13 and 20 respectively as crude prices spilled past $35 a barrel.
Exxon Mobil was No. 2 in revenue, behind Wal-Mart Stores (WMT: Research, Estimates), which was eighth in profits.
Citigroup (C: Research, Estimates) led the financial services sector, earning $17.85 billion for 2003, but its yearly profits trailed Exxon's $21.5 billion year, leaving the company with the ubiquitous red umbrella logo in the No. 2 spot. In all, there were 15 financial services among the top 50, including Fannie Mae (FNM: Research, Estimates), Wachovia (WB: Research, Estimates), and Merrill Lynch (MER: Research, Estimates).
Although last year was a tough one for drug makers, many of whom struggled with expiring patents and increased competition from generic challengers, several pharmaceutical firms made the most profitable list.
Merck (MRK: Research, Estimates) finished at No. 83 in terms of revenue, but the drug maker was the most profitable pharmaceuticals company in 2003, earning $6.8 billion. Pfizer (PFE: Research, Estimates), Bristol-Myers Squibb (BMY: Research, Estimates), Abbott Laboratories (ABT: Research, Estimates), and Eli Lilly (LLY: Research, Estimates) were also among the most profitable drug firms in the sector.
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