Exxon Mobil Earnings: Stock Gushes Higher on Profit Beat

Exxon Mobil Corp. (NYSE:XOM) delivered a profit and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. Shares are up 0.46%.

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Exxon Mobil Corp. Earnings Cheat Sheet

Results: Net income increased 5.85% to $9.95 billion ($2.2 per diluted share) in the quarter versus a net gain of $9.4 billion in the year-earlier quarter.

Revenue: Decreased 5.29% to $115.17 billion from the year-earlier quarter.

Actual vs. Wall St. Expectations: Exxon Mobil Corp. reported adjusted net income of $2.2 per share. By that measure, the company beat the mean analyst estimate of $2.00. It missed the average revenue estimate of $115.22 billion.

Exxon Mobil’s Chairman Rex Tillerson stated, “Energy is fundamental to economic growth and improved living standards. ExxonMobil’s strong financial performance enables continued investment in new energy supplies, which creates jobs and supports economic expansion…

…Fourth quarter 2012 earnings were over $9.9 billion, up 6% from the fourth quarter of 2011. Full year 2012 earnings were $44.9 billion, up 9% from 2011, with record earnings per share of $9.70. Capital and exploration expenditures were a record $39.8 billion in 2012 as we continue pursuing opportunities to find and produce new supplies of oil and natural gas to meet global demand for energy. In 2012, the Corporation distributed over $30 billion to shareholders through dividends and share purchases to reduce shares outstanding.”

Key Stats:

Revenue decreased 0.46% from $115.71 billion in the previous quarter. Net income increased 3.97% from $9.57 billion in the previous quarter.

Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a profit of $2.03 to a profit $1.99. For the current year, the average estimate has moved up from a profit of $7.77 to a profit of $7.91 over the last ninety days.

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(Company fundamentals provided by Xignite Financials.)