HOUSTON (Reuters) – Exxon Mobil Corp (NYSE:), the world’s largest publicly-traded oil producer, said on Friday its quarterly profit jumped more than four-fold on rising oil prices and cost cuts.
The company posted net income of $8.4 billion, or $1.97 per share, compared to $1.7 billion, or 41 cents per share, in the year-ago quarter.
The company saw a $5.9 billion non-cash benefit related to recent U.S. tax reform to revalue deferred taxes.
Production fell 3 percent to 4 million barrels of oil equivalent per day.
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Source: Investing.com