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Saturday, April 10, 2021

Exxon beats 4Q profit forecasts

IRVING, Texas (AP) — Exxon Mobil Corp. on Tuesday reported fourth-quarter profit of $2.78 billion.

On a per-share basis, the Irving-based company said it had profit of 67 cents.

The results beat 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 64 cents per share.

The oil and natural gas company posted revenue of $59.81 billion in the period.

Exxon shares have fallen 2 percent since the beginning of the year, while the Standard & Poor’s 500 index has decreased 5 percent. The stock has fallen 13 percent in the last 12 months.

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