Exxon Mobil Corp.’s stock fell 1% premarket Friday, after the oil giant missed profit estimates for the second quarter. Exxon posted net income of $7.88...
Exxon Mobil Corp.’s stock XOM fell 1% premarket Friday, after the oil giant missed profit estimates for the second quarter. Exxon posted net income of $7.88 billion, or $1.94 a share, for the quarter, down from $17.850 billion, or $4.21 a share, in the year-earlier period. Revenue fell to $82.9 billion from $115.7 billion a year ago. The FactSet consensus was for EPS of $2.03 and revenue of $81.803 billion.
Exxon posted net income of $7.88 billion, or $1.94 a share, for the quarter, down from $17.850 billion, or $4.21 a share, in the year-earlier period. Revenue fell to $82.9 billion from $115.7 billion a year ago. The FactSet consensus was for EPS of $2.03 and revenue of $81.803 billion. Earnings were hurt by lower natural gas realizations and industry refining margins, partially offset by higher production in the Guyana and Permian basins.
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