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Exxon earnings beat, increases fourth-quarter dividend

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Exxon’s stock rose in early trading after beating earnings expectations.

Exxon beat Wall Street's earnings expectations, though its profits fell slightly compared to the year ago period.The company returned $9.8 billion to shareholders in the quarter and increased its fourth-quarter dividend to $0.99 per share.

Exxon Mobil beat third-quarter earnings expectations, as the oil major reached its highest production level in more than four decades.reported for the third quarter compared with what Wall Street was expecting, based on a survey of analysts by LSEG:The oil major booked net income of $8.61 billion in the quarter, or $1.92 per share, down 5% compared to $9 billion, or $2.25 per share, in the year-ago period.

The company returned $9.8 billion to shareholders in the quarter and increased its fourth-quarter dividend to $0.99 per share. Exxon said it has reached its high production level in more than 40 years at 3.2 million barrels per day.Chevron beats earnings expectations, returns more than $7 billion to shareholdersNortheast Philadelphia

 

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