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Exxon posts YOY drop in Q2 net income as revenue declines

Exxon Mobil Corp. reported Aug. 2 a GAAP net income of $3.13 billion, or 73 cents per share, for the second quarter, down from $3.95 billion, or 92 cents per share, in the same quarter a year ago.

The Texas-based oil major beat the S&P Global Market Intelligence GAAP consensus estimate at 72 cents per share for the quarter.

The upstream segment had the biggest contribution, with non-U.S. production bringing in $2.93 billion and U.S. production bringing in $335.0 million.

Total revenues and other income reached $69.09 billion during the quarter, down from $73.50 billion in the prior-year period.

Average production totaled 3.91 million barrels of oil equivalent per day for the quarter, up from 3.65 million boe/d a year earlier.

The firm's refinery throughput dropped to 3.93 million barrels per day during the quarter from 4.11 million bbl/d in the prior-year period.