Shares of Exxon Mobil jumped after the oil and gas giant reported fourth-quarter 2018 earnings that easily topped Wall Street’s expectations.
The stock price for the world’s largest publicly traded oil and gas company was up nearly 2 percent at $74.62. Shares earlier jumped by about 4 percent.
Exxon earned a quarterly profit of $6 billion including the impacts of U.S. tax changes, down 28 percent from a year ago. That pencils out to earnings per share of $1.41, beating Refinitiv forecasts for $1.08 per share.
Excluding tax impacts, the company earned $6.41 billion for the quarter, marking a 72 percent increase from the same period a year ago.
Revenue came in at $71.89 billion, well below expectations for $77.28 billion from Refinitiv.
Exxon grew its total production of oil, natural gas and other hydrocarbons slightly, hitting 4 million barrels of oil equivalent in the quarter.
https://www.cnbc.com/2019/02/01/exxon-mobil-q4-2018-earnings.html
