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Updated from 1:27 p.m. EDT
Exxon Mobil (XOM Quote) said first-quarter earnings fell 58% from a year ago due to the global slowdown and sharply lower commodity prices.
The Irving, Texas-based company recorded a quarterly profit of $4.55 billion, or 92 cents a share, falling from $10.89 billion, or $2.02 a share, in the year-ago quarter. Revenue was slashed nearly in half from a year ago, falling to $64 billion from $116.9 billion.
Analysts expected Exxon to report a profit of 95 cents a share on revenue of $54 billion, according to Thomson Reuters. ...
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