Exxon Mobil reports $14.7B in Q2 adjusted earnings, missing analyst expectations despite a 67% quarterly rise.
Exxon Mobil posted its highest quarterly profit in four years, with Q2 adjusted earnings climbing 67% quarter-over-quarter to $14.7B. The result, however, fell short of Wall Street estimates as investors weighed the miss against broader market conditions.
Net profit more than doubled to $14.5B, or $3.48 per share, from $7.1B, or $1.64 per share, in the same period last year. The surge reflects stronger energy prices and operational performance, though the earnings miss tempered the positive momentum.
Shares of Exxon dipped 0.9% in pre-market trading following the release, signaling investor caution despite the profit growth.