Investing.com - The world’s largest oil and gas company Exxon Mobil reported better than expected first quarter earnings ahead of Thursday’s opening bell, despite missing on revenue figures.
Exxon said earnings per share came in at $2.10 in the three months ended March 31, above expectations for earnings of $1.88 per share. The company’s first quarter revenue totaled $106.77 billion, below forecasts for revenue of $109.76 billion.
Exxon Mobil Chairman Rex W. Tillerson commented, “ExxonMobil’s first quarter earnings and cash flow reflect the company’s continuing focus on delivering profitable growth and creating long-term shareholder value. Strong performance in the Upstream benefitted from improved production mix and increased unit profitability.”
Following the release of the report, Exxon Mobil (NYSE:XOM) shares fell 0.2% in pre-market trade.
Meanwhile, U.S. equity markets pointed to a flat open. The Dow indicated a gain of 0.01%, S&P 500 pointed to a decline of 0.01%, while the Nasdaq 100 indicated a rise of 0.2%.