Investing.com - The world’s largest oil and gas company Exxon Mobil (NYSE:XOM) reported better-than-expected fourth quarter earnings ahead of Monday's opening bell, sending its shares higher in pre-market trade.
Exxon said earnings per share came in at $1.56, above expectations for earnings of $1.34 per share.
The company’s fourth quarter revenue totaled $87.27 billion, below forecasts for sales of $87.58 billion.
Current period results were favorably impacted by approximately $1 billion of non-cash effects that included U.S. deferred income tax items and the recognition of a favorable arbitration ruling for expropriated Venezuela assets.
Capital and exploration expenditures were $10.5 billion, up 5% from the fourth quarter of 2013. Oil-equivalent production decreased 3.8% from the same period a year earlier.
Following the release of the report, Exxon Mobil shares rose 1.25% in pre-market trade.
Meanwhile, the outlook for U.S. equity markets was upbeat. The Dow futures indicated a gain of 0.2% at the open, the S&P 500 futures pointed to a rise of 0.2%, while Nasdaq 100 futures advanced 0.1%.