Exxon profit falls compared with record-setting numbers last year, but consolidation in full swing

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Exxon profit falls compared with record-setting numbers last year, but consolidation in full swing
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The deal comes less than two weeks after Exxon Mobil said it would acquire Pioneer Natural Resources for about $60 billion.

Exxon Mobil Corp. earned $9.07 billion, or $2.25 per share in the period. That compares with $19.66 billion, or $4.68 per share, a year earlier.Exxon Mobil’s third-quarter profit declined compared with last year when the oil giant put up record numbers as oil prices soared, but net income jumped 15% compared with the previous quarter. It also raised its quarterly dividend.

Revenue slipped to $90.76 billion from $112.07 billion, but still topped Wall Street's estimate of $89.29 billion.Exxon said Friday that it delivered its best ever third-quarter global refinery throughput at 4.2 million barrels per day. Wall Street was calling for earnings of $3.68 per share, but - like Exxon - Chevron does not adjust its reported results based on one-time events such as asset sales.

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