SPRING, Texas (AP) — SPRING, Texas (AP) — Exxon Mobil Corp. (XOM) on Friday reported fourth-quarter profit of $6.5 billion.
The Spring, Texas-based company said it had net income of $1.53 per share. Earnings, adjusted for one-time gains and costs, were $1.71 per share.
The results surpassed Wall Street expectations, but Exxon does not adjust its reported results based on one-time events such as asset sales. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1.68 per share.
The oil and natural gas company posted revenue of $82.31 billion in the period, which did not meet Street forecasts. Five analysts surveyed by Zacks expected $83.18 billion.
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