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Saturday, February 27, 2021

Exxon misses 2Q profit forecasts

IRVING, Texas (AP) — Exxon Mobil Corp. on Friday reported second-quarter profit of $4.19 billion.

On a per-share basis, the Irving-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 shares have decreased 10 percent since the beginning of the year, while the Standard & Poor’s 500 index has climbed slightly more than 2 percent. The stock has decreased 20 percent in the last 12 months.

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