Exxon Q3 earnings drop 49% year-over-year - Breaking The News

Exxon Q3 earnings drop 49% year-over-year

1 November

1 min read

EPA / JUSTIN LANE

American oil giant Exxon Mobil Corporation said on Friday the company's third-quarter earnings fell 49% year-over-year to $3.2 billion as the energy sector faced weaker prices. However, the figure was above analyst forecasts.

Exxon's net revenue came in at $65 billion, 15% lower compared to the same quarter a year earlier and above expectations as well.

In a press release, Exxon's Chief Executive Officer Darren W. Woods highlighted the company has been "making excellent progress" on its long-term strategy.

The company's stock was up 0.60% after the release of the financial update/

earnings exxon exxon mobil

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