Exxon’s Profit Rises; Beats Estimates (XOM)
Energy company, Exxon Mobil Corporation (XOM) reported an increase in its first quarter earnings, beating analysts estimates on Thursday.
The Irving, TX based company reported first quarter net income of $9.5 billion, or $2.12 a share, up from $9.45 billion, or $2 per share last year. On average, analysts expected to see earnings of $2.05 per share.
Revenue for the quarter declined by -12% to $108.81 billion, from $124.05 billion last year. Analysts expected to see revenue of $119.83 billion.
Upstream revenue fell to $7.037 million, while downstream revenues declined to $1.55 million. The company’s chemical segment increased 62% compared to last year.
Exxon shares were down 77 cents, or -0.86% during Thursday morning trading. The stock has been mostly flat in the past year.
The Bottom Line
Shares of Exxon Mobil Corporation (XOM) have a 2.85% yield, based on Thursday morning’s price of $88.57.
Exxon Mobil Corporation (XOM) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
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