Exxon Mobil Earnings: Exceeds Expections Despite Dips
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Exxon Mobil Corporation Earnings Cheat Sheet
Results: Net income for the integrated oil-international fell to $9.57 billion ($2.09 per share) vs. $10.33 billion ($2.13 per share) a year earlier. This is a decline of 7.4% from the year-earlier quarter.
Revenue: Fell 7.7% to $115.71 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Exxon Mobil Corporation beat the mean analyst estimate of $1.96 per share. Analysts were expecting revenue of $115.08 billion.
The company trumped estimates last quarter after falling shy in the two quarters prior. In the second quarter, it missed the mark by 15 cents, and in the first quarter, it came in under estimates by 11 cents.
Net income has increased 14.5% year-over-year on average across the last five quarters. The biggest gain came in the second, when income climbed 49% from the year-earlier quarter.
Looking Forward: Analysts appear increasingly optimistic about the company’s results for the next quarter. The average estimate for the fourth quarter has moved up from $1.90 a share to $2.01 over the last sixty days. For the fiscal year, the average estimate has moved up from $7.51 a share to $7.72 over the last sixty days.
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(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)
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