Exxon profit surges, just not enough

July 27, 2018 - 7:33 am

IRVING, Texas (AP) — Profit at Exxon Mobil Corp. surged on rising prices, but not enough for investors who are selling off shares in early trading.

The Irving, Texas-based company on Friday reported second-quarter profit of $3.95 billion, or 92 cents per share.

The results fell short of Wall Street expectations, but Exxon does not adjust its reported results based on one-time events such as asset sales. Wall Street had expected per-share earnings of $1.26.

Revenue was $73.5 billion, well above projections for $70.25 billion.

Shares of Exxon Mobil Corp. are down almost 3 percent before the opening bell.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on XOM at https://www.zacks.com/ap/XOM

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