UPDATE: Exxon Mobil Posts Upbeat Q4 Profit

Exxon Mobil

reported a 4% drop in its fourth-quarter net income. Exxon Mobil's quarterly earnings fell to $9.1 billion, from $9.5 billion in the year-ago period. On a per-share basis, the company earned $2.10, down from $2.12. Its revenue slipped to $106.77 billion from $108.36 billion. However, analysts were projecting earnings of $1.88 per share on sales of $105.3 billion. Exxon Mobil's production declined 5.6% in the same quarter. Exxon Mobil shares gained 0.48% to $102.90 in pre-market trading.