Exxon Mobil Tops 3Q Profit Forecasts, Earns $2.65B
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IRVING (AP/CBSDFW) - Exxon Mobil Corp. has reported third-quarter earnings of $2.65 billion.
The Irving-based company said Friday that it had profit of 63 cents per share.
The results topped Wall Street expectations, but Exxon does not adjust its reported results based on one-time events such as asset sales.
"ExxonMobil's integrated business continues to deliver solid results," said Rex W. Tillerson, chairman and chief executive officer. "While the operating environment remains challenging, the company continues to focus on capturing efficiencies, advancing strategic investments, and creating long-term shareholder value."
The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 60 cents per share.
The oil and natural gas company posted revenue of $58.68 billion in the period, which fell short of Street forecasts. Four analysts surveyed by Zacks expected $60.56 billion.
Exxon shares have climbed 12 percent since January, while the Standard & Poor's 500 index has risen slightly more than 4 percent. The stock has risen 7 percent in the last 12 months.
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