Exxon reports record earnings driven by higher fuel prices

Earnings hit USD 17.9bn during the quarter, surpassing to preceding record set in 2008.

Photo: Exxon Mobil

Friday, ExxonMobil follows on the heels of rivaling Chevron showing the highest quarterly earnings level to date, driven by rising commodity prices.

Investors react to the financial statement, sending the oil company’s stock up 3% to USF 95.39 in US premarket trading.

Earnings reached USD 17.9bn during the quarter, exceeding the preceding record set in 2008.

Adjusted earnings per share rose markedly to USD 4.14 from USD 1.10, whereas analysts had projected USD 3.98.

The US-based supermajor maintains guidance for this year’s capital expenditure of USD 21–24bn against the market outlook to USD 18.27bn.

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