Agence France-PresseOctober 31, 2013 12:35
US oil giant ExxonMobil reported an 18 percent decline in quarterly profits Thursday due to weaker refining earnings, but results bested expectations as oil and gas output stabilized.
Exxon, the largest US oil company, said third-quarter profits were $7.9 billion on revenues of $112.4 billion, down from $9.6 billion on revenues of $115.1 billion in the year-ago period.
Those results translated into earnings per share of $1.79, two cents above analyst estimates. Revenues bested expectations by about $5 billion.