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4/27/2018, 2:11 PM (Source: TeleTrader)
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Exxon Mobil reports EPS at $1.09 in Q1, up 15% YoY

American oil and gas giant Exxon Mobil reported on Friday its earnings per share for the first quarter of the fiscal year 2018 stood at $1.09, improving 15% year on year. The company said its revenue amounted to $68.2 billion in the first three months of the year, up 14% compared to the same period in 2017.

Exxon noted its United States Upstream earnings were also positive at $429 million, soaring 447% compared to the same period a year ago. Meanwhile, the firm said its net income was $4.7 billion in the first three months of the year, rising 16% compared to the same quarter in 2017.

"Increased commodity prices, coupled with a focus on operating efficiently and strengthening our portfolio, resulted in higher earnings and the highest quarterly cash flow from operations and asset sales since 2014," said Exxon Mobil CEO Darren. W. Woods. He added: "Through new discoveries and acquired acreage, we’ve positioned our Upstream portfolio well for future growth. We also made good progress on our plans to improve the production mix and grow premium product sales in the Downstream and Chemical businesses."

Following the release of the quarterly earnings, Exxon Mobil shares fell 1% in the premarket trade on Wall Street.

Breaking the News / VK