Sign in to comment!

Menu
Home

Earnings

Exxon second-quarter profit increases 28 percent, beats estimate

a3072fc623c87410VgnVCM100000d7c1a8c0____-Earns Exxon Mobil-1.jpg

This April 29, 2014 photo shows an Exxon sign at a Exxon gas station in Carnegie, Pa. Exxon Mobil Corp. reports quarterly financial results before the market opens on Thursday, July 31, 2014. (AP Photo/Gene J. Puskar) (The Associated Press)

Exxon Mobil Corp. (XOM) on Thursday reported net income that climbed by 28 percent in its second quarter, and topped analysts' expectations.

The Irving, Texas-based company said net income increased to $8.78 billion, or $2.05 per share, from $6.86 billion, or $1.55 per share, in the same quarter a year earlier. The average estimate of analysts surveyed by Zacks Investment Research was for profit of $1.91 per share.

The company said revenue rose 4.9 percent to $111.65 billion from $106.67 billion in the same quarter a year earlier, and beat Wall Street forecasts. Analysts expected $109.14 billion, according to Zacks.

Exxon Mobil shares have climbed $2.05, or 2 percent, to $103.25 since the beginning of the year, while the Standard & Poor's 500 index has increased 6.6 percent. The stock has increased $9.50, or 10 percent, in the last 12 months.