Reported 25 days ago
Exxon Mobil reported a profit of $8.61 billion for the third quarter, surpassing Wall Street estimates, thanks to strong oil production, particularly from its recent acquisition of Pioneer Natural Resources. While profits decreased by 5% year-over-year due to falling oil prices, their production reached 4.6 million barrels of oil equivalent per day, aided by robust cash flow from the Pioneer acquisition. The company's dividend was raised by 4%, despite challenges in refining margins which saw a significant year-over-year drop.
Source: YAHOO