Exxon Profits Surge On One Time Gains

AP ExxonMobil

Oil-and-gas giant Exxon Mobil reported earnings per share of $3.41, substantially above estimates for $1.95.

However, that figure includes a net gain of $7.5 billion on tax gains and divestments.

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Earnings would have been $1.81 per share when stripping out the one time gains, based on the number shares outstanding.

Revenue topped analyst expectations, improving 1.5 per cent to $127.4 billion.

Again, when excluding those special gains, revenue fell to $119.8 billion, ahead of expectations for a $112.2 billion quarter.

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