Exxon Mobil Corp's operating profits fell last quarter for the fourth conse...
FILE PHOTO: An Exxon sign is seen at a gas station in the Chicago suburb of Norridge, Illinois, U.S., October 27, 2016. REUTERS/Jim Young/File Photo
Lower oil prices, weaker results in its chemical business and the lack of a tax benefit from the year-ago period combined to cut earnings to about $4 billion for the third quarter ended Sept. 30, according to a securities filing. The biggest hit to profits came from weaker oil prices. Earnings in the company’s oil and gas production unit are expected to fall about 45% from last year’s $4.23 billion in operating profit, Exxon’s data showed.
The company had warned analysts it was spending heavily to replace production and will not reach its profit goals until next year.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
Exxon, BP bosses set for rare Russia showing with PutinThe bosses of ExxonMobil and BP are set to take part in an energy conference pre...
Consulte Mais informação »
Fed rate-cut in October seen as more likely after weak ISM reportInvestors think Tuesday’s weak September ISM manufacturing report makes it more likely the Federal Reserve will cut interest-rates at its next meeting at the...
Consulte Mais informação »
Weak report on US manufacturing knocks stock market lowerMARKETS: A surprise contraction in U.S. manufacturing last month knocked the stock market lower Tuesday, erasing an early rally.
Consulte Mais informação »
Dollar powers to 29-month high, stocks stay standing despite weak dataThe dollar bulldozed almost everything in its path on its way to a 29-month high...
Consulte Mais informação »
10 habits of weak, unsuccessful people you should try to avoidThere's no magical formula for success. Instead, the best way to find it is to avoid being unsuccessful.
Consulte Mais informação »
Oil prices fall as China's economic outlook still weakOil prices slipped on Monday as China's economic outlook remained weak even...
Consulte Mais informação »