Diversified oil giant Exxon Mobil (XOM) reported weak third quarter results Thursday morning. The firm saw revenue decline 7% year-over-year to $115.7 billion, which was slightly better than consensus expectations. Earnings per share fell just 2% year-over-year to $2.09, which also exceeded consensus estimates.
By Mel Daris:Exxon Mobil (XOM) resembles an ever-expanding giant octopus with its arms reaching out in various directions, turning whatever it touches into gold. The company recently announced the multi-billion-dollar expansion of its Baytown petrochemical complex.
By Dividend Kings:Exxon Mobil (XOM) released its first quarter 2012 earnings on April 26, and though its earnings missed analyst expectations, the stock still closed the day around $86, 1% higher than its intraday low. An analyst poll shortly before the earnings release predicted earnings per share of $2.10.
Steven Bauer submits: Exxon Mobile Corp. (XOM) has had and continues to have perhaps the best management of all global oil and gas integrated companies. That’s quite a an accomplishment for these big guys. Exxon has nearly recovered to the highs of 2008, and is showing much growth for a giant. It certainly does qualify as a “quality” firm that helps supply energy to the world.
SAP announced lower than forecasted revenues and a decline in the Asian market. Today shares on Japanese market increased 0.73%, despite the weaker performance on Wall Street. May Crude Oil Futures increased by 75 cents or 0.9% to $88.48 a barrel on the Asian market. The owner of Jet2.com airlines, DART Group announced that expects higher profits due to the lower operation costs during this winter.
Exxon Mobil on Thursday said its first quarter profits rose 38 percent against the same period a year before, to 6.3 billion dollars."ExxonMobil achieved solid results from its worldwide operations," said Exxon chairman Rex Tillerson.The profits excluded a 200-million-dollar charge to pay for changes in US health care legislation.Amid high oil prices of around 85 dollars a barrel, Exxon had been expected to post slightly stronger profits according to analysts.