Exxon Mobil profit tops Street in 3rd quarter, helped by Pioneer Natural acquisition

People leave after voting in the Atlanta suburb of Sandy Springs, Ga., on Tuesday, Oct. 15, 2024, the first day of early in-person voting in Georgia. 2 dead, 6 injured in downtown Orlando shooting; 17-year-old suspect arrested, police chief saysRead full article: Consumer Reports shares the best poop-scooping techniques and gadgets for dog ownersJacksonville woman accused of having inappropriate relationship with 15-year-old boy she was counselingKeep your drink cold longer with these tumblers.

Exxon earned $8.6 billion, or $1.92 per share, for the three months ended Sept. 30. A year earlier the Spring, Texas-based company earned $9.07 billion, or $2.25 per share.The performance topped Wall Street's expectations, though Exxon does not adjust its reported results based on one-time events such as asset sales. Analysts surveyed by Zacks Investment Research were calling for earnings of $1.91 per share.Revenue totaled $90.02 billion, falling short of Wall Street's estimate of $93.

Exxon’s net production reached 4.6 million oil-equivalent barrels per day during the third quarter, an increase of 5% compared with the previous quarter.on Iran targeted military sites rather than the oilfields of the world’s seventh largest producer of crude. The long-term expectation is for oil prices to move lower, not higher. That’s because the balance between supply and demand has tilted toward supply, a dynamic that typically deflates oil prices.

Exxon announced in July 2023 that it would pay $4.9 billion for Denbury Resources, an oil and gas producer that has entered the business of capturing and storing carbon and stands to benefit fromAlso on Friday, Chevron Corp. reported an adjusted profit of $2.51 per share on revenue of $50.67 billion. Wall Street was looking for a profit of $2.47 per share on revenue of $49.88 billion. Similar to Exxon, Chevron does not adjust its reported results based on one-time events such as asset sales.

Copyright 2024 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Exxon Mobil profit tops Street in 3rd quarter, helped by Pioneer Natural acquisitionExxon Mobil’s third-quarter profit beat analysts’ expectations, as the oil and gas giant was helped by contributions from Pioneer Natural Resources, a recent acquisition.
Source: ksatnews - 🏆 442. / 53 Read more »

Charts indicate a near-term rally in energy stocks will continue. How to play itKatie Stockton breaks down the chart in the SPDR Energy ETF and Exxon Mobil.
Source: CNBC - 🏆 12. / 72 Read more »