ExxonMobil earnings more than double to annual record
ExxonMobil's earnings slowed from a peak earlier in the year but the oil giant still reached a full-year record profit more than double what it reported a year ago.
Posted — Updated
The company earned adjusted income of $14 billion, down from the record $18.7 billion it earned in the third quarter, but it was up from $8.8 billion in the fourth quarter of 2021. That was also better than the forecast from analysts surveyed by Refinitiv.
The solid fourth quarter lifted full-year earnings to $59.1 billion from $23 billion in 2021. The company was helped by soaring oil prices following Russia's invasion of Ukraine nearly a year ago. But oil prices have been coming down from the peak reached in June.
This is a developing story and will be updated.
The-CNN-Wire™ & © 2023 Cable News Network, Inc., a Warner Bros. Discovery Company. All rights reserved.
Copyright 2024 by Cable News Network, Inc., a Time Warner Company. All rights reserved.
