Profits for Exxon Mobil in the fourth quarter exceeded expectations as oil and gas prices rose; the company's stock price rose.
Exxon Mobil's fourth-quarter revenue soared more than 80 percent year over year as oil and gas prices rebounded, the firm reported Tuesday. Stock buybacks will commence in the first quarter, the business said.
Excluding one-time factors, ExxonMobil earned $2.05 per share for the period, above analysts' expectations of $1.93. Revenue came in at $84.97 billion, which was lower than the $91.85 billion expected by experts.
Photo: Exxon Mobil Corporation, stylized as ExxonMobil, is an American multinational oil and gas corporation headquartered in Irving, Texas. It is the largest direct descendant of John D. Rockefeller's Standard Oil, and was formed on November 30, 1999, by the merger of Exxon and Mobil.
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Content ID: 1643724536 Created Tuesday, February 01, 2022 2:08 PM UTC by Aaron Stipkovich, Updated Wednesday, February 02, 2022 2:22 PM UTC by Aaron Stipkovich.