Exxon Falls After Lower-Than-Expected Fourth-Quarter Sales
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Exxon Mobil Corp., the world’s largest energy company by market value, declined after fourth-quarter sales fell short of analysts’ estimates and oil production slumped on five continents.
Revenue rose 16 percent to $121.6 billion during the quarter, less than the $124.4 billion average of five analysts’ estimates compiled by Bloomberg. Exxon fell 2.1 percent to $83.74 at the close in New York after earlier declining as much as 2.4 percent, the biggest intraday drop since Dec. 12.