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Exxon’s Q2 Profit Climbs 28 Percent

IRVING (AP) – Exxon Mobil Corp. (XOM) on Thursday reported net income that climbed by 28 percent in its second quarter, and topped analysts’ expectations.

The Irving, Texas-based company said net income increased to $8.78 billion, or $2.05 per share, from $6.86 billion, or $1.55 per share, in the same quarter a year earlier. The average estimate of analysts surveyed by Zacks Investment Research was for profit of $1.91 per share.

The company said revenue rose 4.9 percent to $111.65 billion from $106.67 billion in the same quarter a year earlier, and beat Wall Street forecasts. Analysts expected $109.14 billion, according to Zacks.

Exxon Mobil shares have climbed $2.05, or 2 percent, to $103.25 since the beginning of the year, while the Standard & Poor’s 500 index has increased 6.6 percent. The stock has increased $9.50, or 10 percent, in the last 12 months.

(© Copyright 2014 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

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