Exxon Mobil reported fourth quarter earnings on Monday morning, beating Wall Street’s forecasts, but even the world’s largest public energy company couldn’t escape the fallout from falling oil prices. Earnings per share came in at $1.56, topping estimates of $1.34. But last year’s EPS was $1.91, as profits fell 21% from last year: $8.4 billion down to $6.6 billion. On the revenue side, the company missed estimates with fourth quarter sales at $87.28 billion, whereas Wall Street was looking for $87.58B. While the company was hit by the precipitous drop in oil prices, earnings in its chemicals divisions jumped by $317 million to $1.2 billion. TheStreet’s Scott Gamm has details from New York.
Subscribe to TheStreetTV on YouTube:
For more content from TheStreet visit:
Check out all our videos:
Follow TheStreet on Twitter:
Like TheStreet on Facebook:
Follow TheStreet on LinkedIn:
Follow TheStreet on Google+:
source
