By August 1, 2015 Read More →

Exxon Mobil posts 2Q profit of $4.19 billion, result misses forecasts

Oil prices drop takes toll on Exxon Mobil financial performance

Exxon Mobil Corp. (XOM) on Friday reported second-quarter profit of $4.19 billion.

Exxon Mobil

Exxon Mobil has fallen 20% in last year.

On a per-share basis, the Irving, Texas-based company said it had net income of $1.

The results fell short of Wall Street expectations, but Exxon does not adjust its reported results based on one-time events such as asset sales.

The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $1.11 per share.

The oil and natural gas company posted revenue of $74.11 billion in the period.

Exxon Mobil shares have decreased 10 per cent since the beginning of the year, while the Standard & Poor’s 500 index has climbed slightly more than 2 per cent.

The stock has decreased 20 per cent in the last 12 months.

The Canadian Press.

Posted in: Energy Financial

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