Exxon Profits Rise Though Production Falls Slightly
02 Novembre 2018 - 1:52PM
Dow Jones News
By Allison Prang
Exxon Mobil Corp.'s profit rose in the third quarter as the oil
producer's revenue climbed but production fell slightly.
Net income jumped 57% from the year-earlier quarter to $6.24
billion. Earnings per share increased to $1.46, up from 93 cents a
share. Analysts polled by Refinitiv were expecting $1.24 a
share.
Exxon said that prices for crude and natural gas improved during
the third quarter and that unconventional production in the Permian
Basin grew. Referring to its downstream business, Exxon said that
industry fuel margins improved.
Revenue rose 25% to $76.61 billion. Analysts polled by Refinitiv
were expecting $73.55 billion.
Oil-equivalent production fell 2.4% to 3.79 million barrels a
day, as natural-gas volumes declined, the company said.
(END) Dow Jones Newswires
November 02, 2018 08:37 ET (12:37 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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