Exxon Reports Strong Third Quarter Earnings

11 October 2022 78

Last week, Exxon Mobil Corp reported strong third-quarter operating income following a historic high in the previous quarter. This result was achieved by the profit from natural gas, which compensated for the weaker oil refining and chemical industries.


The largest US oil producer released a review of factors affecting its third quarter. The review showed that the results could approach the company's second-quarter profit of $17.9 billion.


Exxon posted sky-high profits this year, due to rising energy prices and high demand for the company's products.


Overall, operating income was about $17.8 billion, above IBES Refinitiv's forecast of $14.68 billion.


In the previous quarter, Exxon earned $17.9 billion, or $4.21 per share, an all-time record.


Source: Reuters.com

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