Fortune 500 determined the top company of 2008

The Fortune 500 announced the list of America’s largest corporations by their annual revenue on Sunday. Exxon Mobile is at the head of the list, as the top selling-company in 2008, with nearly $443 billion in revenue, a jump of almost 19% from the prior year. The Irving, Texas-based oil giant was also the most profitable, with earnings of $45.2 billion. The second line went to Wal-Mart, which was No. 1 on the Fortune 500 the past two years. The retailer's sales grew 7% to more than $406 billion during last year but that was not enough to become first for the third time. High ranking spots in the Fortune 500 went to other oil companies: Chevronheld its place at third, its revenues growing nearly 25%; ConocoPhillips moved up one notch to fourth, its sales jumping more than 29%. But the lose of almost $17 billion owing to its high exposure to refineries gave ConocoPhillips a more dubious distinction -- placing seventh on the list of worst money losers on the Fortune 500. It was a difficult year for the Fortune 500 overall. All told, America's 500 biggest companies earned $98.9 billion in 2008, down 85 percent from $645.2 billion in profits the previous year. And 128 companies on the list had losses, totaling $519.3 billion. The previous year, just 57 Fortune 500 companies lost money, for a total of $116.7 billion. The insurance giant American International Group turned out to be the first in the list of worst money loser of all. Among five worst money losers there are Fannie Mae, Freddie Mac, General Motors and Citigroup.