Exxon Mobil Corporation (XOM) reported a fourth quarter profit that, while lower than the same period from the previous year, surpassed the predictions by Wall Street analysts.
In total, the company's earnings amounted to $7.63 billion, translating to $1.91 per share. This is lower compared to the $12.75 billion or $3.09 per share they reported in the fourth quarter of the previous year.
However, when taking certain items out, Exxon Mobil Corporation reported adjusted earnings of $9.963 billion or $2.48 per share for the period. In comparison, a collection of analysts' predictions curated by Thomson Reuters anticipated an earning of $2.21 per share on average. It is important to note that these estimates typically do not account for special items.
Regarding the company's revenue, they saw a decline of 11.6% in the quarter, falling to $84.344 billion from last year's $95.429 billion.
In a nutshell, the fourth quarter earnings of Exxon Mobil Corporation (following GAAP standards) included earnings of $7.63 billion as opposed to $12.75 billion from last year, the EPS was reported at $1.91 compared to $3.09 last year, and the revenue for the quarter stood at $84.344 billion, lower than last year's $95.429 billion. The estimated earnings, as predicted by analysts, was $2.21.
