Exxon Mobil Beats Q3 Profit Forecasts
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IRVING (AP) - Exxon Mobil Corp. on Friday reported third-quarter earnings of $4.24 billion.
The Irving, Texas-based company said it had profit of $1.01 per share.
The results exceeded Wall Street expectations, but Exxon does not adjust its reported results based on one-time events such as asset sales. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 89 cents per share.
The oil and natural gas company posted revenue of $67.34 billion in the period.
Exxon shares have dropped 11 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed 1.5 percent. The stock has fallen 13 percent in the last 12 months.
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