A view of the Exxon Mobil refinery in Baytown, Texas.
Jessica Rinaldi | Reuters
Exxon Mobil on Friday reported its third straight quarter of losses as depressed oil demand sparked by the coronavirus pandemic weighed on the company’s operations.
During the third quarter, the company lost $680 million, although Exxon said results improved on a quarter-over-quarter basis thanks to “early stages of demand recovery.”
On an adjusted basis, Exxon lost 18 cents per share during the quarter while generating $46.2 billion in revenue. The Street was expecting a 25 cent loss per share and $46.01 billion in revenue, according to estimates from Refinitiv.
A year earlier, the company earned 75 cents per…