Exxon Mobil’s annual profit amounted to $36 billion – Kommersant
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American oil and gas company Exxon Mobil published quarterly and annual reporting. The company’s main indicators were lower than last year, given the fall in oil and gas prices. At the same time, as reported Reutersanalysts had expected an even larger drop in profits.
Exxon Mobil’s net profit in the fourth quarter amounted to $7.6 billion, a year earlier it was $12.7 billion. Revenue for this period amounted to $84.3 billion compared to $95.4 billion a year earlier. Earnings per common share fell from $3.09 to $1.91. The profit of individual divisions of Exxon Mobil decreased: the profit of the oil and gas segment fell by 49%, to $4.1 billion, the energy segment – by 21%, to $3.2 billion, and the chemical products segment – by 24%, to $189 million.
Annual profit exceeded $36 billion, while at the end of 2023 it amounted to $55.7 billion. Revenue at the end of the year exceeded $344 billion, a year earlier it was $413 billion. Earnings per share decreased from $13.26 to $8.89. The company produced 3.73 million barrels of oil equivalent per day in 2023, essentially unchanged from 2022. In its earnings, Exxon Mobil also announced a dividend increase of 4% to $0.95 per share. The company’s shares are up less than 1% in New York.
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