Exxon Profit, Revenue Fall
26 Abril 2019 - 8:39AM
Noticias Dow Jones
By WSJ City
Profit weakened at Exxon Mobil in the first quarter, as the oil
company reported softer prices in its exploration business and said
margins shrank for its business refining oil products overseas.
KEY FACTS
--- Profit dropped to $2.35bn, or 55 cents a share, from
$4.65bn, or 1.09 a share, in the first quarter last year.
---- Analysts polled by Refinitiv predicted 70 cents a
share.
--- Exxon also said lower production from an oil-sands operation
in Canada weighed on results...
--- ...and reported natural-gas prices were affected by warmer
weather in the quarter.
--- Revenue fell 7% to $63.63bn. Analysts expected $64.82bn,
according to Refinitiv.
The Backstory
Supply cuts have pushed oil prices higher this year, helping
Exxon and other oil producers. In December, OPEC and Russia struck
a deal to reduce oil output. Earlier this week, prices jumped to a
six-month high after the Trump administration said it would end
waivers that permit countries to import Iranian crude.
A fuller story is available on WSJ.com
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(END) Dow Jones Newswires
April 26, 2019 09:24 ET (13:24 GMT)
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