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S&P 500 (NYSE:SPY) component Exxon Mobil Corporation (NYSE:XOM) reported net income above Wall Street’s expectations for the second quarter. ExxonMobil Corporation produces and sells crude oil, natural gas and petroleum products.
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Exxon Mobil Corporation Earnings Cheat Sheet
Results: Net income for the integrated oil-international rose to $15.9 billion ($3.41 per share) vs. $10.68 billion ($2.18 per share) in the same quarter a year earlier. This marks a rise of 48.9% from the year-earlier quarter.
Actual vs. Wall St. Expectations: Exxon Mobil Corporation beat the mean analyst estimate of $1.96 per share.
ExxonMobile (NYSE:XOM) beat estimates last quarter after falling short in the previous two quarters. In the first quarter, it missed the mark by 11 cents, and in the fourth quarter of the last fiscal year, it came in under estimates by 3 cents.
Net income has increased 24.2% year-over-year on average across the last five quarters. The biggest gain came in the most recent quarter, when income climbed 48.9% from the year-earlier quarter.
Looking Forward: Analysts appear increasingly negative about the company’s results for the next quarter. The average estimate for the third quarter has moved down from $2.05 a share to $1.84 over the last ninety days. At $7.75 per share, the average estimate for the fiscal year has fallen from $8.37 ninety days ago.
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(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)
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