IRVING (AP) – Exxon Mobil Corp. (XOM) on Friday reported second-quarter profit of $1.7 billion.READ MORE: US Supreme Court To Consider Controversial Texas Abortion Law
The Irving, Texas-based company said it had profit of 41 cents per share.
The results did not meet Wall Street expectations, but Exxon does not adjust its reported results based on one-time events such as asset sales. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 64 cents per share.READ MORE: Texas Mother And Son Arrested In Wyoming For Murder In Oklahoma
The oil and natural gas company posted revenue of $57.69 billion in the period, which also fell short of Street forecasts. Three analysts surveyed by Zacks expected $59.83 billion.
Exxon shares have risen 16 percent since the beginning of the year, while the Standard & Poor’s 500 index has climbed 6 percent. The stock has risen slightly more than 9 percent in the last 12 months.MORE NEWS: Southlake Ranks 20th 'Best Small City In America'; Keller & Flower Mound Most Affordable
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