{"id":18619,"date":"2017-10-27T15:23:48","date_gmt":"2017-10-27T14:23:48","guid":{"rendered":"https:\/\/nationalwire.com.ng\/?p=18619"},"modified":"2017-10-27T15:23:48","modified_gmt":"2017-10-27T14:23:48","slug":"exxonmobils-q3-earnings-rise-4-bn","status":"publish","type":"post","link":"https:\/\/nationalwire.com.ng\/sub\/exxonmobils-q3-earnings-rise-4-bn\/","title":{"rendered":"ExxonMobil\u2019s Q3 earnings rise to $4 bn"},"content":{"rendered":"

Higher oil prices significantly boosted ExxonMobil\u2019s third-quarter earnings, more than offsetting the hit to operations from US hurricanes, the oil giant reported Friday.<\/p>\n

ExxonMobil reported earnings of $4.0 billion, up 49.8 percent from the year-ago period. US hurricanes resulted in a hit of $160 million.<\/p>\n

Revenues were $66.2 billion, up 12.8 percent.<\/p>\n

ExxonMobil\u2019s earnings from exploration and production more than doubled those of the year-ago period, mostly due to moderately higher commodity prices during the quarter and in spite of $238 million loss in the US upstream.<\/p>\n

The oil giant also saw earnings rise in its downstream division, which is responsible for refining crude oil into gasoline and other petroleum products.<\/p>

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Advertisement<\/div>\r\n\t\t\t\t\t\t\t<\/a>\r\n \r\n\t\t\t\t\t\t\t<\/div>\n

Better refining margins more than compensated for added expenses from Hurricane Harvey, which flooded the Houston area and resulted in temporary plant closures.<\/p>\n

\u201cA\u00a050\u00a0percent increase in earnings through solid business performance and higher commodity prices is a step forward in our plan to grow profitability,\u201d said ExxonMobil chief executive Darren Woods.<\/p>\n

\u201cFor the fourth-consecutive quarter, we generated cash flow from operations and asset sales that more than covered our dividends and net investments in the business.\u201d<\/p>\n

Shares of ExxonMobil rose 0.8 percent in pre-market trading to $84.14. AFP<\/p>\n","protected":false},"excerpt":{"rendered":"

Higher oil prices significantly boosted ExxonMobil\u2019s third-quarter earnings, more than offsetting the hit to operations from US hurricanes, the oil giant reported Friday. ExxonMobil reported earnings of $4.0 billion, up 49.8 percent from the year-ago period. US hurricanes resulted in a hit of $160 million. Revenues were $66.2 billion, up 12.8 percent. ExxonMobil\u2019s earnings from …<\/p>\n","protected":false},"author":6,"featured_media":18621,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[17],"tags":[1865],"coauthors":[2391],"class_list":["post-18619","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-news","tag-exxonmobil"],"yoast_head":"\nExxonMobil\u2019s Q3 earnings rise to $4 bn - National Wire<\/title>\n<meta name=\"description\" content=\"Higher oil prices significantly boosted ExxonMobil\u2019s third-quarter earnings, more than offsetting the hit to operations from US\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nationalwire.com.ng\/sub\/exxonmobils-q3-earnings-rise-4-bn\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"ExxonMobil\u2019s Q3 earnings rise to $4 bn - National Wire\" \/>\n<meta property=\"og:description\" content=\"Higher oil prices significantly boosted ExxonMobil\u2019s third-quarter earnings, more than offsetting the hit to operations from US\" \/>\n<meta property=\"og:url\" content=\"https:\/\/nationalwire.com.ng\/sub\/exxonmobils-q3-earnings-rise-4-bn\/\" \/>\n<meta property=\"og:site_name\" content=\"National Wire\" \/>\n<meta property=\"article:published_time\" content=\"2017-10-27T14:23:48+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/nationalwire.com.ng\/sub\/wp-content\/uploads\/2017\/10\/belgium-exxonmobil-ex_live.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"4801\" \/>\n\t<meta property=\"og:image:height\" content=\"2432\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Friday Ekeoba\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebSite\",\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/#website\",\"url\":\"https:\/\/nationalwire.com.ng\/sub\/\",\"name\":\"National Wire\",\"description\":\"About Nigerians, Nigerian Business and Other Stories\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/nationalwire.com.ng\/sub\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/exxonmobils-q3-earnings-rise-4-bn\/#primaryimage\",\"url\":\"https:\/\/nationalwire.com.ng\/sub\/wp-content\/uploads\/2017\/10\/belgium-exxonmobil-ex_live.jpg\",\"contentUrl\":\"https:\/\/nationalwire.com.ng\/sub\/wp-content\/uploads\/2017\/10\/belgium-exxonmobil-ex_live.jpg\",\"width\":4801,\"height\":2432,\"caption\":\"The headquarters of ExxonMobil is seen in Brussels on Friday, Oct. 26, 2012. 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