Oil prices drop takes toll on Exxon Mobil financial performance
Exxon Mobil Corp. (XOM) on Friday reported second-quarter profit of $4.19 billion.
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.