Exxon Mobil Stock Tanks on Earnings Miss
Exxon Mobil earned 78 cents per share, well short of estimates.
Exxon Mobil Corp. (XOM) - Get Exxon Mobil Corporation Report shares were down 2.3% to $78.98 in early afternoon trading on Friday after the energy company reported earnings of 78 cents per share, falling short of analysts' consensus 84 cents per share expectations.
The company reported revenue of $62.9 billion, $1 billion better than analysts were expecting for the quarter.
Exxon Mobil also declared a quarterly dividend of 77 cents per share earlier this week, unchanged from the previous quarter.
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The investigation into the company's dealings with Russia in spite of sanctions levied against the country acted as a headwind in the period.
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