Exxon Beats Wall Street as Supply Surge Overwhelms Oil Drop
What’s Behind Big Beats for Big Energy Earnings?
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Exxon Mobil Corp. posted its biggest earnings surprise in at least a decade as output from oil wells surpassed expectations and refining margins soared amid lower crude prices.
Per-share profit was 41 percent higher than the average of 21 analysts’ estimates compiled by Bloomberg, the largest margin since at least 2004.