Explore the latest developments concerning Exxon earnings fall.
Exxon earnings fall on lower oil prices as OPEC+ raises production
Exxon Mobil on Friday reported third quarter earnings that fell year over year, as oil prices tumbled due in large part to OPEC+ increasing production.
Exxon's net income fell 12% to $7.55 billion, or $1.76 per share, compared to $8.6 billion, or $1.92 per share, in the year ago period. Excluding one-time items, the oil major posted earnings per share of $1.88.
U.S. crude oil prices have fallen about 16% this year as OPEC+ is increasing production and President Donald Trump's tariffs have the market worried about an economic slowdown.
Here is what Exxon reported for the third quarter compared with what Wall Street was expecting, based on a survey of analysts by LSEG:
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