ExxonMobil Earnings Cheat Sheet: Quarterly Sales Gush Higher 31%

S&P 500 (NYSE:SPY) component Exxon Mobil Corporation (NYSE:XOM) reported higher profit for the first quarter as revenue showed growth. ExxonMobil Corporation produces and sells crude oil (NYSE:USO), natural gas (NYSE:UNG) and petroleum products.

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Exxon Mobil Earnings Cheat Sheet for the First Quarter

Results: Net income for the oil and gas company rose to $10.65 billion ($2.14/share) vs. $6.3 billion ($1.33/share) in the same quarter a year earlier. A rise of 69% from the year earlier quarter.

Revenue: Rose 31% to $114 billion YoY.

Actual vs. Wall St. Expectations: XOM beat the mean analyst estimate of $2.06/share. Estimates ranged from $1.90 per share to $2.30 per share.

Quoting Management: ExxonMobil’s chairman Rex W. Tillerson commented: “ExxonMobil’s earnings reflect continued leadership in operational performance during a period of strong commodity prices. Earnings were $10.7 billion, up 69% from the first quarter of 2010, reflecting higher crude oil and natural gas realizations, increased refining margins and record Chemical performance.”

Key Stats: The company has enjoyed double-digit year-over-year revenue growth for the past five quarters. Over that span, the company has averaged growth of 25.3%, with the biggest boost coming in the first quarter of the last fiscal year when revenue rose 40.1% from the year earlier quarter.

The company has now seen net income rise in three-straight quarters. In the fourth quarter of the last fiscal year, net income rose 52.9% and in the third quarter of the last fiscal year, the figure rose 55.4%.

Competitors to Watch: Chevron Corporation (NYSE:CVX), BP plc (NYSE:BP), ConocoPhillips (NYSE:COP), Marathon Oil Corporation (NYSE:MRO), Hess Corp. (NYSE:HES), TOTAL S.A. (NYSE:TOT), Suncor Energy Inc. (NYSE:SU), Repsol YPF, S.A. (REPYY) and Petroleo Brasileiro SA (NYSE:PBR).

Today’s Performance: Shares of XOM are trading at $87.20 as of April 28, 2011 at 10:00 AM ET, down under a percent from the previous close.


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