ExxonMobil's earnings and oil output disappoint analysts

The US oil giant failed to reach analysts' Q1 forecast.

BY MARKETWIRE, TRANSLATED BY CHRISTOFFER ØSTERGAARD

The US oil and gas supemajor ExxonMobil underperforms on earnings and output figures in the first quarter accounts, writes Bloomberg News.

Total revenue came to USD 90.50bn against analysts’ forecast of 89.57bn.

Oil production also proves falls short of analysts’ expectations, reaching just 3.675 million barrels of oil equivalent per day compared to analysts’ consensus of 3,804 million barrels of oil equivalent per day.

Adjusted earnings per share more than tripled to USD 2.07 from USD 0.65, also proving a letdown based on analysts’ forecast of USD 2.24

ExxonMobil’s stock depreciates by 0.6 percent in US premarket trading.

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