XOM - Oil and Gas Giant Exxon's Q3 Profits Slump To $9.1B Still Raises Annual Outlook | Benzinga
Exxon Mobil Corp's (NYSE: XOM) reported Q3 FY23 adjusted net profit of $9.12 billion, or $2.27 per share, down from 18.682 billion, or $4.45 per share, a year earlier. Analyst estimates stand at $2.37.
Profits plunged almost 51% compared with last year when the oil giant put up record numbers due to soaring crude prices.
Results improved on higher refining throughput, crude price, and industry refining margin environment, partly offset by weaker chemical margins.
Revenue slipped to $90.76 billion from $112.07 billion but still topped Wall Street's estimate of $88.81 billion.
Production dipped 0.8% to 3,688 ...