ExxonMobil: losses pile up since start of year

(CercleFinance.com) - ExxonMobil has reported a Q3 loss of 680 million dollars, meaning EPS of -15 cents, albeit better than the consensus, although well below last year's Q3 profit of 3.
17 billion dollars (and EPS of 75 cents).

Over the first nine months of the year, its loss reached 2.37 billion dollars, compared with a profit of 8.65 billion dollars for the first nine months of last year.

However, the group said that it is on track to meet its cost reduction targets for 2020 and will achieve additional savings next year to manage this unprecedented downward cycle.


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