Exxon Falls as Second Quarter Profits Miss Estimates

Exxon Mobil Corp. reported lower-than-estimated second-quarter profit as production growth lagged analysts’ forecasts and refining earnings outside the U.S. declined.

Per-share profit was 16 cents less than than the $2.34 a share forecast, based on the average estimate of 18 analysts in a Bloomberg survey. Net income rose 41 percent to $10.68 billion, or $2.18 a share, from $7.56 billion, or $1.60, a year earlier, the Irving, Texas-based company said today.