ExxonMobil (XOM) net income rises from Q2

ExxonMobil (NYSE: XOM) reported third-quarter earnings before the open on Friday, missing consensus profit and revenue expectations.

The oil company reported Q3 EPS of $2.25, $0.12 worse than the analyst estimate of $2.37, while revenue for the quarter came in at $90.76 billion versus the consensus estimate of $94.06 billion.

In total, third-quarter 2023 earnings were $9.1 billion, down around 54% from a year ago but up from $7.9 billion in the second quarter. The oil producer has benefitted from an increase in oil prices compared to the last quarter.

“We delivered another quarter of strong operational performance, earnings and cash flows, adding nearly 80,000 net oil-equivalent barrels per day to support global supply,” said Darren Woods, chairman and chief executive officer.

The company also said it delivered the best-ever third-quarter global refinery throughput at 4.2 million barrels per day, with strong demand for gasoline and diesel.

XOM shares are up around 0.22% just before Friday's open.

By Sam Boughedda

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