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Shares of
Exxon Mobil Corporation were trading lower by 0.75 percent early Tuesday morning after the company reported its
fourth quarter results.
Exxon Mobil said that it earned $0.67 per share in the fourth quarter on revenue of $59.81 billion. Wall Street analysts were expecting the company to earn $0.63 per share on revenue of $51.36 billion.
Fourth quarter earnings fell to $2.8 billion from $6.6 billion in the same quarter a year ago. The company noted "lower commodity prices in the Upstream were partly offset by higher Downstream earnings."
Capital and exploration expenditures totaled $7.4 billion in the quarter, marking a decrease of 29 percent year-over-year.
Oil-equivalent production rose 4.8 percent from a year ago with liquids up 14 percent and natural gas down 5.6 percent.
Exxon Mobil also reported that it earned $3.85 per share for the full fiscal year on revenue of $268.882 billion, marking a decrease from the $7.60 it earned throughout fiscal 2014 on revenue of $411.939 billion.
"While our financial results reflect the challenging environment, we remain focused on the business fundamentals, including project execution and effective cost management," said Rex W. Tillerson, chairman and chief executive officer. "The scale and diversity of our cash flows, along with our financial strength, provide us with the confidence to invest through the cycle to create long-term shareholder value."
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