2 months ago
Key Takeaways
- ExxonMobil reported better-than-expected second-quarter gross and nett income Friday acknowledgment to higher accumulation and lipid prices.
- The institution said it reached its highest accumulation levels since nan 1999 merger of Exxon and Mobil.
- The astir $60 cardinal acquisition of Pioneer Natural Resources was besides closed during Q2, contributing astir $500 cardinal to ExxonMobil's net during May and June.
ExxonMobil (XOM) posted second-quarter results good supra analysts' expectations Friday arsenic grounds accumulation levels and higher lipid prices boosted nan company's results.
The Texas-based power elephantine reported a 12% year-over-year revenue summation to $93.06 billion, and a 17% profit bump to $9.24 billion, some easy surpassing estimates compiled by Visible Alpha.
ExxonMobil Hits Highest Production Levels Since 1999 Combination
The institution said it produced its highest levels of lipid since nan 1999 merger that brought Exxon and Mobil together, pinch 4.4 cardinal oil-equivalent barrels per time produced successful nan quarter, 15% supra ExxonMobil's Q1 production.
ExxonMobil's acquisition of Pioneer Natural Resources, weighted astatine astir $60 billion, closed during nan quarter, and nan institution said it contributed an estimated $500 cardinal to its net during May and June.
ExxonMobil shares roseate little than 1% to $117.57 soon aft nan opening doorbell Friday.
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