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.
Take This Retirement Quiz To Get Matched With An Advisor Now (Sponsored)
Are you ready for retirement? Planning for retirement can be overwhelming, that’s why it could be a good idea to speak to a fiduciary financial advisor about your goals today.
Start by taking this retirement quiz right here from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes. Smart Asset is now matching over 50,000 people a month.
Click here now to get started.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
