Wednesday, September 22, 2021
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Exxon tops Street 1Q forecasts

🕐 1 min read

IRVING, Texas (AP) — Exxon Mobil Corp. (XOM) on Friday reported first-quarter earnings of $1.81 billion.

On a per-share basis, the Irving, Texas-based company said it had profit of 43 cents.

The results exceeded 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 31 cents per share.

The oil and natural gas company posted revenue of $48.71 billion in the period, also exceeding Street forecasts. Three analysts surveyed by Zacks expected $48.14 billion.

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

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