Reuters: Global Markets: Exxon's quarterly profit lower, output off 1.9 percent

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Exxon's quarterly profit lower, output off 1.9 percent Aug 1st 2013, 12:17 Tweet Share this Email Print Related News ConocoPhillips profit falls 10 pct 7:19am EDT Western Refining says margins recovering as it taps cheaper crude 6:50am EDT Rising costs, Nigeria troubles blot Shell profits 4:36am EDT Hess seeking partners for assets in Kurdistan, Ghana Wed, Jul 31 2013 Related Topics Hot Stocks » Asian Markets » A view of the Exxon Mobil refinery in Baytown, Texas September 15, 2008. Credit: Reuters/Jessica Rinaldi Thu Aug 1, 2013 8:35am EDT (Reuters) - Exxon Mobil Corp (XOM.N) on Thursday reported a lower-than-expected decline in second-quarter profit as oil and gas output dropped and earnings for its refining business fell. The Irving, Texas company's profit was $6.9 billion, or $1.55 per share, down 57 percent from $15.9 billion or $3.41 per share in the same period a year earlier. Analysts on average had forecast a profit of $1.90 per share, according to Thomson Reuters I/B/E/S. Oil and natural gas production fell 1.9 percent. Profit in Exxon's refining business was $396 million, down sharply from $6.6 billion in the 2012 second quarter. The year-ago results included a $5.3 billion gain related to a restructuring in Japan, but weaker margins and maintenance also weighed, Exxon said. Shares of Exxon fell nearly 2 percent to $92.06 in premarket trading. (Reporting By Anna Driver; Editing by Marguerita Choy) Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

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