|
The
results reflected the slowly improving dynamics for the company
as well as the global energy industry, with oil prices up more
than 50 percent since early 2015.
Still, pockets of weakness remained. Exxon's U.S. oil and gas
division posted a loss. Plant repair costs pushed earnings down
in the company's chemical division, which had kept Exxon
profitable during the two-year oil price downturn.
Net income jumped to $4.01 billion, or 95 cents per share, from
$1.81 billion, or 43 cents per share, in the year-ago quarter.
Analysts expected earnings of 85 cents per share, according to
Thomson Reuters I/B/E/S.
Production fell 4 percent to 4.2 million barrels of oil
equivalent per day.
The company gobbled up acreage and reserves across the globe
during the quarter, with deals in Texas and Mozambique, part of
a plan to expand Exxon's growth potential.
Exxon raised its quarterly dividend this week by 3 percent.
Shares of Texas-based Exxon rose 1.6 percent to $82.60 in
premarket trading.
(Reporting by Ernest Scheyder; Editing by Chizu Nomiyama)
[© 2017 Thomson Reuters. All rights
reserved.] Copyright 2017 Reuters. All rights reserved. This material may not be published,
broadcast, rewritten or redistributed.
 |
|
