The company said it earned $6.57 billion in the quarter, the lowest since the first quarter of 2010, on revenue of $87.28 billion. Last year Exxon earned $8.35 billion on revenue of $110.86 billion.
Microsoft has surpassed Exxon to become the second most valuable company in the world. Exxon’s shares have been falling recently, along with the price of oil.
Exxon Mobil shareholders are voting on measures to explicitly ban discrimination against gays and to reduce production of greenhouse gas emissions.
Exxon says the energy renaissance in the U.S. has staying power and predicts that North America will become a net exporter of oil and gas by the middle of the next decade.
Exxon says that net income rose 49 percent in the second quarter as it made $7.5 billion from selling company assets.
In Feb. 2011, North Texans spent an average of $3 a gallon on gas. This year, Triple A says that’s jumped a whole fifty cents to $3.50 a gallon.