Exxon Mobil Net Income Declines as Quarterly Output Slips
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Exxon Mobil Corp., the world’s largest oil producer by market value, said fourth-quarter profit dropped the most in four years as it pumped less natural gas from wells and energy prices stagnated.
Net income fell 16 percent to $8.35 billion, or $1.91 a share, from $9.95 billion, or $2.20, a year earlier, the Irving, Texas-based company said in a statement today. Exxon was expected to post per-share profit of $1.91, based on the average of 18 analysts’ estimates compiled by Bloomberg.