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Profits Strong at Exxon Mobil

TSC Staff

Exxon Mobil's (XOM) fourth-quarter profit exceeded $10 billion, roughly flat with the year-ago period, even as revenue declined 9%.

The company said earnings were nearly $10.3 billion, or $1.76 a share, in the most recent quarter. A year earlier, Exxon Mobil earned $10.7 billion and $1.71 a share. Excluding items, earnings were $1.69 a share in the latest quarter, 18 cents ahead of estimates.

Revenue of $90.03 billion for the fourth quarter dropped 9.4% year over year.

Shares of Exxon Mobil were up 50 cents at $74.60 in premarket trading Thursday.