Exxon Mobil Corp. (NYSE: XOM) is out with its third-quarter earnings. This company staggers its release by sending it to newswires before releasing its formal press release, which always makes for an interesting argument around Reg. FD.
The oil giant posted earnings of $1.79 per share, versus a Thomson Reuters consensus estimate of $1.77 per share. This was down from $2.09 per share a year ago. Revenue came in at $112.37 billion, considerably higher than the $107.4 billion consensus, even if most analysts do not make revenue predictions for Exxon.
When you look at the numbers, you see just how much profit there is in oil. Net income came to almost $7.9 billion.
Be advised that so far this has been one of the five worst stocks of the Dow Jones Industrial Average this year. Shares closed at $88.81 on Wednesday and are indicated up above $89 after the report, versus a 52-week trading range of $84.70 to $95.49.
The consensus price target for Exxon is $95.29, according to Thomson Reuters.
Essential Tips for Investing (Sponsored)
A financial advisor can help you understand the advantages and disadvantages of investment properties. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.
Investing in real estate can diversify your portfolio. But expanding your horizons may add additional costs. If you’re an investor looking to minimize expenses, consider checking out online brokerages. They often offer low investment fees, helping you maximize your profit.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
