Exxon Mobil’s revenue jumped more than 80% year over year during the fourth quarter amid a rebound in oil and gas prices, the company said Tuesday. With Exxon now in a stronger financial position, the company said it will begin to buy back stock during the first quarter.
Shares advanced more than 6% on Tuesday to trade at the highest level since April 2019.
The oil giant earned $2.05 per share during the period excluding items, ahead of the $1.93 that analysts surveyed by Refinitiv were expecting. Revenue came in at $84.97 billion, which was short of the $91.85 billion analysts were expecting.
In the same quarter one year ago the company earned 3 cents per share excluding items on sales of…