EXXON MISSES, EPS At $2.00 Below Forecasts For $2.08

Exxon gas station

Photo: flickr/jnhighland

Oil giant Exxon Mobil reported lower-than-expected first quarter results, with net income down 11 per cent to $9.45 billion, or $2.00 per share.Click here for updates >

Analysts polled by Bloomberg forecast earnings per share of $2.08 per share.

Revenue during the first three months of 2012 grew 8.7 per cent to $124 billion. 

The company said upstream earnings were $7.8 billion, while downstream results topped $1.5 billion.

Oil equivalent production at Exxon declined by 1 per cent and the firm said it produced 14,036 MCFD of natural gas.

Shares are more than one per cent lower in pre-market trading.

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.

Tagged In

exxon moneygame-us