In the third quarter of this year, ExxonMobil experienced a decline in profits compared to the same period last year, as stated in the earnings report released on Monday. However, the company saw a noteworthy 15% increase in net income in the last September quarter, a boost attributed to the soaring global oil prices reaching record levels.<\/p>\n\n\n\n
ExxonMobil, in its earnings statement, highlighted that these substantial oil price hikes provided the opportunity for strategic acquisitions. One such acquisition was the purchase of Denbury, a company operating oil pipelines, in July for $4.9 billion.<\/p>\n\n\n\n
For the third quarter of 2023, ExxonMobil’s profits totaled $9.07 billion, equivalent to $2.25 per share. This is a decrease from the profits reported in the corresponding period last year, which stood at $19.66 billion, or $4.68 per share. When accounting for specific items, the earnings were $2.27 per share.<\/p>\n\n\n\n
The company’s revenues also experienced a decline, dropping to $90.76 billion compared to the profits recorded in the same period last year at $112.07 billion. Nevertheless, these figures surpassed market expectations, which had predicted revenues of $89.29 billion. This dynamic showcases ExxonMobil’s ability to navigate challenging market conditions while capitalizing on strategic opportunities.<\/p>\n","protected":false},"excerpt":{"rendered":"
In the third quarter of this year, ExxonMobil experienced a decline in profits compared to the same period last year, as stated in the earnings report released on Monday. However, the company saw a noteworthy 15% increase in net income in the last September quarter, a boost attributed to the soaring global oil prices reaching …<\/p>\n","protected":false},"author":9,"featured_media":42036,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[37,36],"tags":[8488,7113,9581,9137,9583,9582,9584],"class_list":["post-91739","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-forex-markets","category-market-updates","tag-chevron","tag-earnings","tag-earnings-reports","tag-exxon","tag-mobil","tag-oil-companies","tag-stock-buyback-plan"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/91739","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=91739"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/91739\/revisions"}],"predecessor-version":[{"id":91740,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/91739\/revisions\/91740"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/42036"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=91739"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=91739"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=91739"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}