Exxon Mobil reports above-consensus Q3 earnings but revenue misses estimates
Trending Articles- Iran threatens to completely close Strait of Hormuz if US bombs power plants
- Gold Prices Under Pressure After Hitting $4,600, UBS: Safe-Haven Logic Unchanged But Only Delayed.
- Trump TACO Trade Saves Market, But Who Are the First Victims of the TACO Trade?
- US-Iran Rift Persists, Will Gold Rise or Fall Next?
- Gold Suffers Epic Plunge, March Cumulative Decline Exceeds 20%. Has Gold Become a Risk Asset?
- Gold rallies on hopes for US-Iran talks and falling US Treasury yields
Investing.com -- Exxon Mobil (NYSE:XOM) reported earnings for the third quarter that beat analyst estimates, while revenue fell short of expectations.
The energy giant delivered Q3 earnings per share (EPS) of $1.92, slightly above the consensus estimates of $1.89.
Quarterly revenue reached $90.02 billion, missing the $94.24 billion projected by analysts.
Exxon shares rose around 1% in premarket trading Friday.
The company said its capital and exploration expenditures stood at $7.2 billion in the third quarter, bringing total expenditures for 2024 so far to $20 billion, aligning with its full-year target of $28 billion.
Cash flow from operating activities was reported at $17.6 billion and free cash flow was $11.3 billion.
“We delivered one of our strongest third quarters in a decade,” said Darren Woods, chairman and CEO of Exxon Mobil.
“Our industry-leading results continue to demonstrate how our enterprise-wide transformation is improving the structural earnings power of the company,” he added.
Exxon also raised its quarterly dividend by 4.2% to 99 cents per share.
Read more
* The content presented above, whether from a third party or not, is considered as general advice only. This article should not be construed as containing investment advice, investment recommendations, an offer of or solicitation for any transactions in financial instruments.
