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Exxon Mobil Q3 Beats on Top and Bottom Lines Despite Lower Oil

Gregg Greenberg
10/31/14 10:57 AM EDT
Petroleum giant Exxon Mobil posted third quarter earnings of $1.89 a share on revenue of $107.5 billion. Wall Street analysts were looking for earnings of $1.71 on sales of $105.5 billion. Last year, the oil major earned $1.79 per share on $112.4 billion in sales. As for details, oil and gas production at the company fell 4.7% compared with last year, and lower prices reduced earnings by approximately $670 million. Nevertheless, profit at the company's refining operations soared 38% in the quarter, boosting overall profit. TheStreet's Gregg Greenberg has details from New York.
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