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11.11 - 03:21
Exxon posts highest quarterly profit in years, but revenue disappoints
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cnbc.comIn this article
Exxon said Friday that its third-quarter profit was the highest in years as improving demand, higher commodity prices and streamlined operations boosted results.
The company earned $1.58 per share during the period on an adjusted basis, which was ahead of the $1.56 analysts surveyed by Refinitiv were expecting. Revenue totaled $73.79 billion, short of the $76.34 billion the Street was expecting.
«All three of our core businesses generated positive earnings during the quarter, with strong operations and cost control, as well as increased realizations and improved demand for fuels,» Darren Woods, Exxon's chairman and CEO, said in a statement.
The $1.58 in EPS is the biggest adjusted quarterly profit since 2014, according to
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