Exxon Mobil

Ticker XOM

Today's data summary

Market closed
% change
-1.31%
Price US dollars
80.83
Change
-1.07
As of 21:00 18 Jun 2018
Market cap. US dollars
342,220.85 million
As of 21:00 18 Jun 2018

Latest updates

Exxon Mobil misses earnings expectations

Exxon Mobil
Reuters

Exxon Mobil's first quarter earnings results have failed to impress investors.

Despite a rise in global crude oil prices, the firm only managed to grow earnings by 16% to $4.65bn compared to the same period in the previous year.

It also saw a decline in production of over 5%, because its longer-term drilling projects in places like Brazil and Guyana have yet to bear fruit.

"Exxon has spent the last several months trying to explain its strategy to investors who are growing impatient," said Reuters columnist Lauren Laughlin.

"Other bumps in the quarter show that shorter-term projects are needed to fill the gap until it can fully extract oil from its deeper well projects."

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