Exxon Mobil reported a 49% decline in third-quarter earnings on lower oil prices and higher costs. The results, however, did slightly top Wall Street expectations and the shares were up more than 2% in Friday’s trading session.
Exxon earned $3.2 billion in the third quarter, down from $6.2 billion in the same period a year ago.
Here’s how the energy giant’s results fared relative to Wall Street expectations:
- Adjusted earnings: 75 cents per share vs. 67 cents expected by Refinitiv
- Revenue: $65.05 billion vs. $64.79 billion expected expected by Refinitiv
- Upstream income: $2.17 billion vs. $2.36 billion expected from FactSet estimates
- Downstream income: $1.23 billion vs. $1 billion expected from…