Exxon Mobil’s Profit Spikes By 41 Percent, Yet Company Still Misses

Exxon Mobil Corp, the world’s largest publicly traded oil company, said higher oil prices contributed to a 41 percent rise in its second-quarter profit, but results fell short of expectations.

Shares of the Irving, Texas company fell 1.5 percent to $82.02 in premarket trading.

Exxon reported a profit of $10.68 billion, or $2.18 per share, up from $7.56 billion, or $1.60 per share a year ago.

Wall Street analysts on average had expected Exxon to report a profit of $2.33 per share, according to data compiled by Thomson Reuters I/B/E/S.

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Tags: business news, Oil Drilling, Profits, Shares, Stock, Thomson Reuters, Wall Street

Category: Business/ Economy