ExxonMobil: quarterly profit up 16%
(CercleFinance.com) - ExxonMobil's first-quarter profit rose 16%, with the oil giant benefiting from higher crude prices and improved operating efficiencies.
The Irving, Texas based company reported Q1 profit of 4.6 billion dollars, or 1.09 dollar per share, up from 4 billion, or 95 cents per share, a year ago.
Revenue rose 16% to 68.2 billion dollars, against 58.7 billion dollars in the first three months of 2017.
Oil and gas output fell 6% to 3.9 million barrels oil equivalent per day.
Profit in Exxon's upstream business reached 429 million dollars.
More generally, the company generated its highest quarterly cash flow from operations and asset sales since 2014, it said.
However, Exxon shares are currently down 2.2% in premarket trading, after closing at 80.8 dollars on the New York Stock Exchange yesterday.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The Irving, Texas based company reported Q1 profit of 4.6 billion dollars, or 1.09 dollar per share, up from 4 billion, or 95 cents per share, a year ago.
Revenue rose 16% to 68.2 billion dollars, against 58.7 billion dollars in the first three months of 2017.
Oil and gas output fell 6% to 3.9 million barrels oil equivalent per day.
Profit in Exxon's upstream business reached 429 million dollars.
More generally, the company generated its highest quarterly cash flow from operations and asset sales since 2014, it said.
However, Exxon shares are currently down 2.2% in premarket trading, after closing at 80.8 dollars on the New York Stock Exchange yesterday.
Copyright (c) 2018 CercleFinance.com. All rights reserved.