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.

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