Exxon Mobil Reports 1Q Loss From Market-Related Write-Downs
01 Mai 2020 - 2:29PM
Dow Jones News
By Allison Prang
Exxon Mobil Corp. logged a first-quarter loss hurt by
market-related write-downs, the company said.
The oil company reported a loss of $610 million, or 14 cents a
share, compared with year-ago earnings of $2.35 billion, or 55
cents a share. Exxon's adjusted earnings of 53 cents a share were
above 1 cent a share, or FactSet's analyst consensus.
The company said it had a noncash charge because of
market-related write-downs of $2.9 billion, leading to its
loss.
Production at the oil producer rose more than expected from a
year ago, to 4.05 million barrels of oil-equivalent a day. Analysts
were expecting 3.98 million.
Exxon reported revenue of $56.16 billion, which fell 12% from a
year ago and topped analysts' consensus of $53.53 billion.
Exxon recently cut capital spending for the year by 30%.
Write to Allison Prang at allison.prang@wsj.com
(END) Dow Jones Newswires
May 01, 2020 08:14 ET (12:14 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
Exxon Mobil (NYSE:XOM)
Graphique Historique de l'Action
De Juin 2024 à Juil 2024
Exxon Mobil (NYSE:XOM)
Graphique Historique de l'Action
De Juil 2023 à Juil 2024
