Before Thursday’s opening bell, Exxon Mobil Corporation (XOM
) reported higher Q2 earnings and revenue results despite a a decline in production.
XOM’s Earnings in Brief
XOM reported a 28% increase in Q2 profits to $8.78 billion, or $2.05 per share, from $6.86 billion, or $1.55 per share, in the same quarter last year. Revenue increase 4.7% to $111.65 billion. On average, analysts expected to see $1.86 per share in earnings and revenue of $108.38 billion. XOM reported that its exploration and production business rose 25%, while its production dropped 5.7%.CEO Commentary
Exxon’s CEO Rex Tillerson commented: “Upstream production for the year remains in line with plans and we continue to add volumes from our high quality development portfolio through assets such as the Papua New Guinea LNG project, which started up ahead of schedule during the quarter.”
XOM’s Dividend
Exxon will pay its next 69 cent dividend on September 10 to shareholders of record on August 13. The stock will go ex-dividend on August 11.
Stock Performance
Exxon Mobil shares were down $1.39, or 1.36%, during premarket trading Thursday. The stock is up 2.03% YTD.
XOM Dividend SnapshotAs market close on July 30, 2014
Click here to see the complete history of XOM dividends.
