Size Matters: ExxonMobil Beats Earnings Expectations By A Mile
ByExxonMobil announced first quarter results this morning. Its $4.9 billion in earnings beat expectations by a long shot, delivering $1.17 in earnings per share versus analyst consensus of 83 cents. Even so, the result was a far cry from the same quarter a year ago when earnings were $9.1 billion. That’s what happens when oil prices fall by half.
It’s in difficult markets like this where the benefits of being a giant integrated operation really reveal themselves. CEO Rex Tillerson’s statement in theearnings release was no doubt calculated to assure shareholders that Exxon has everything under control. “ExxonMobil’s balanced portfolio delivered solid financial results in the quarter,” said Tillerson. “Regardless of current market conditions, we remain focused on business fundamentals and competitive advantages that create long-term shareholder value.”..
Size Matters: ExxonMobil Beats Earnings Expectations By A Mile
