Exxon Mobil Corp. reaped a record $59 billion profit but disappointed some investors by holding the line on share buybacks.
Full-year profit, excluding one-time items, jumped 157% from 2021, far exceeding the driller’s prior record of $45.2 billion in 2008, which at the time marked the biggest in US corporate history. Chief Executive Officer Darren Woods said Exxon is harvesting the rewards from fossil-fuel investments in recent years that were panned as ill-timed.
