Exxon's Profit Rises; Beats Estimates (XOM)

Exxon’s Profit Rises; Beats Estimates (XOM)

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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.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

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