ExxonMobil: profit falls 21%, but tops consensus
(CercleFinance.com) - ExxonMobil's second-quarter profit fell 21%, which exceeded expectations, as the US oil giant benefited from a rise in production and improved margins in its refining business.
The Irving, Texas-based company reported second-quarter profit of 3.1 billion dollars, or 0.73 dollar per share, up from 3.9 billion dollars, or 0.92 dollar per share, a year earlier.
In comparison, analysts were expecting Exxon to report quarterly EPS of 0.66 dollar.
Revenue fell to 69.1 billion dollars, from 73.5 billion dollars a year ago, despite oil-equivalent production increasing by 7% to 3.9 million barrels per day, the group said.
Exxon shares edged up slightly (+0.8%) in premarket trading on Friday.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
The Irving, Texas-based company reported second-quarter profit of 3.1 billion dollars, or 0.73 dollar per share, up from 3.9 billion dollars, or 0.92 dollar per share, a year earlier.
In comparison, analysts were expecting Exxon to report quarterly EPS of 0.66 dollar.
Revenue fell to 69.1 billion dollars, from 73.5 billion dollars a year ago, despite oil-equivalent production increasing by 7% to 3.9 million barrels per day, the group said.
Exxon shares edged up slightly (+0.8%) in premarket trading on Friday.
Copyright (c) 2019 CercleFinance.com. All rights reserved.