Exxon Mobil Earnings: Stock Gushes Higher on Profit Beat
Exxon Mobil Corp. (NYSE:XOM) delivered a profit and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. Shares are up 0.46%.
Exxon Mobil Corp. Earnings Cheat Sheet
Results: Net income increased 5.85% to $9.95 billion ($2.2 per diluted share) in the quarter versus a net gain of $9.4 billion in the year-earlier quarter.
Revenue: Decreased 5.29% to $115.17 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Exxon Mobil Corp. reported adjusted net income of $2.2 per share. By that measure, the company beat the mean analyst estimate of $2.00. It missed the average revenue estimate of $115.22 billion.
Exxon Mobil’s Chairman Rex Tillerson stated, “Energy is fundamental to economic growth and improved living standards. ExxonMobil’s strong financial performance enables continued investment in new energy supplies, which creates jobs and supports economic expansion…