Member access

4-Traders Homepage  >  Shares  >  Nyse  >  Exxon Mobil Corporation    XOM   US30231G1022

SummaryQuotesChart AnalysisNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 

Exxon Mobil Corporation : Exxon quarterly profit up slightly

04/25/2013 | 09:03am US/Eastern

(Reuters) - Exxon Mobil Corp said on Thursday its quarterly profit edged up, helped by higher earnings in its chemicals business but oil and gas production fell.

Earnings per share topped Wall Street expectations but the gains largely came after a big stock buyback that reduced the number of outstanding shares by 5 percent.

"Their reliance on share buybacks mutes the earnings per share beat," said Brian Youngberg, energy company analyst at Edward Jones in St Louis. "I'd rather see them give the cash to shareholders in the form of a dividend increase."

First-quarter profit for the world's largest publicly traded oil company totaled $9.5 billion, or $2.12 per share, compared with $9.45 billion, or $2 per share, a year earlier.

Analysts, on average, expected the Irving, Texas, company to report a profit of $2.05 per share.

Total oil and natural gas production declined 3.5 percent to 4.395 million barrels oil equivalent per day from the same quarter a year ago.

Profit in Exxon's exploration and production unit fell about 10 percent to $7 billion, but low natural gas prices in North American led to an 62 percent increase in profit in its chemicals business.

Shares of Exxon fell 0.6 percent to $88.91 in premarket trade.

(Reporting by Anna Driver; Editing by Gerald E. McCormick and Jeffrey Benkoe)

Recommend :
React to this article
2h ago EXXON MOBIL : Free Jambalaya, Employment Opportunities for Business Students
2d ago EXXON MOBIL : Tropic Oil Company Wins ExxonMobil's Top Award
3d ago EXXON MOBIL : Exxonmobil Pipeline Company to Pay Civil Penalty Under Proposed Se..
3d agoDJU.S. HOT STOCKS : Hot Stocks to Watch
4d ago EXXON MOBIL : unit to pay $1.4 million penalty for Louisiana oil spill
4d ago EXXON MOBIL : Dow Movers: DIS, XOM
5d ago EXXON MOBIL : Eket Youths Drag Exxonmobil, Elders to Court Over Oil Spill Fund
5d ago EXXON MOBIL : 'Qatar entrepreneurs hold great potential for its economic future'
08/23 EXXON MOBIL : HCC Announces Grants from JP Morgan Chase and ExxonMobil
08/22 UK forces energy, mining firms to show foreign state payments
Duration : Period :
Exxon Mobil Corporation Technical Analysis Chart | XOM | US30231G1022 | 4-Traders
Income Statement Evolution
Exxon Mobil Corporation : Income Statement Evolution
More Financials
Dynamic quotes