Exxon Mobil XOM reported second-quarter earnings of 73 cents per share, which beat the analyst consensus estimate of 69 cents by 5.8%. This is a 20.65% decrease over earnings of 92 cents per share from the same period last year.
Oil-equivalent production was 3.9 million barrels per day, up 7% from the second quarter of 2018.
"We continue to make significant progress toward delivering our long-term growth plans," said Darren Woods, ExxonMobil CEO.
"Our new U.S. Gulf Coast steam cracker is exceeding design capacity by 10%, less than a year after startup. Our upstream liquids production increased by 8% from last year, driven by growth in the Permian Basin, and we are preparing to startup the Liza Phase 1 development in Guyana, where the estimated recoverable resource increased to more than 6 billion oil-equivalent barrels."
Exxon Mobil shares are trading up 2.82% at $74.50 in Friday’s pre-market session. The stock has a 52-week high of $87.36 and a 52-week low of $64.65.
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