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Exxon -2% as Q2 earnings miss expectations

Published 07/28/2017, 08:32 AM
© Reuters.  Exxon -2% as Q2 earnings miss expectations
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  • Exxon Mobil (NYSE:XOM) -1.9% premarket after Q2 earnings of $3.35B nearly doubled the $1.7B from the year-ago quarter but nevertheless missing analyst estimates; total revenues rose 9% to $62.9B, beating expectations.
  • XOM says Q2 upstream earnings totaled $1.2B, up $890M from a year ago, as realizations increased.
  • Q1 downstream earnings totaled $1.4B, up $560M from a year ago, on improved refining margins and higher refinery volumes.
  • XOM says its global production fell 1% Y/Y to 3.9B boe/day; liquids production of 2.3M bbl/day fell by 61K bbl/day mostly through field decline and lower entitlements, while natural gas production of 9.9B cf/day rose by 158M cf/day due to project ramp-up, primarily in Australia.
  • Now read: Exxon Mobil Outperforms Valero And Chevron (NYSE:CVX)


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