Exxon Mobil Swings To Profit In Q1; Results Top Estimates – Quick Facts

(RTTNews) – Oil major Exxon Mobil Corp. (XOM) reported Friday that first-quarter net income was $2.73 billion or $0.64 per share, compared to a net loss of $610 million or $0.14 per share in the prior-year quarter.

Excluding special items, adjusted earnings were $0.65 per share, compared to $0.53 per share in the prior-year quarter.

On average, analysts polled by Thomson Reuters expected the company to report earnings of $0.59 per share for the quarter. Analysts’ estimates typically exclude special items.

Total revenues and other income increased to $59.15 billion from $56.16 billion in the same quarter last year. Wall Street expected revenues of $54.60 billion for the quarter.

However, the company’s oil-equivalent production in the quarter declined 3.8 million barrels per day from 4.05 million Boe in the prior-year period.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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