XOM Exxon Mobil Corp

By Kimberly Chin

Exxon Mobil Corp. (XOM) posted about $4 billion in profit for its latest quarter, helped by rising crude oil prices and stronger production from the Permian and Bakken basins.

The company said profit rose 18% from a year ago to $3.95 billion, or 92 cents a share. Analysts polled by Thomson Reuters were expecting earnings per share of $1.27.

Exxon's oil-equivalent production fell 7% to 3.6 million barrels a day, as natural gas production volume declined. Excluding divestitures, liquids production rose on growth from the Permian and Bakken basins in the U.S. and Hebron in Canada.

Refinery throughput fell world-wide by roughly 5.5% and petroleum product sales fell 1%. Meanwhile, sales of Exxon's chemical prime products rose 11%.

Total revenue rose 26% to $73.5 billion. Money spent on worldwide capital expenditures and exploration rose 68% to $6.62 billion.

Shares, which are up 0.7% this year, fell 4.4% in premarket trading.

Write to Kimberly Chin at kimberly.chin@wsj.com

(END) Dow Jones Newswires

July 27, 2018 09:11 ET (13:11 GMT)

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