Exxon Mobil reports above-consensus Q3 earnings but revenue misses estimates
Trending Articles- Gold Price Forecast: XAU/USD tumbles to near $3,950 on Fed's hawkish comments, trade optimism
- Gold holds gains near $3,950 ahead of Trump-Xi meeting
- Gold drifts higher amid growing concerns over US government shutdown
- XRP, BNB, and SOL record major losses as Bitcoin slides to $105,000
- Goldman Sachs and Morgan Stanley warn of potential 20% market decline
- Bitcoin, cryptos fail to rally as Fed Chair sparks cautious sentiment
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.
